HSBC staff may strike over pay

Thousands of workers at the HSBC bank in Britain could go on strike in a row over pay, which was made worse by the bank’s huge profits, it was warned today.

Amicus said it was planning to ballot 20,000 staff for industrial action unless the dispute was resolved.

The union said it was preparing to stage a walk-out to coincide with the company’s annual meeting in May.

The union said it was calling on its members to prepare for industrial action after talks held at the conciliation service Acas failed to break the deadlock.

Around 10% of workers will receive no pay rise this year and a further 40% would be given a below inflation rise with the rest receiving 3.5%, the union complained.

Amicus also claimed that a new bonus system would hit the pay of workers, particularly long-service employees who could lose up to £2,000 (€2,900) this year compared to 2004.

National officer Rob O’Neill said: “How can a bank which is making so much money squeeze the pay of exactly the same staff who have contributed to the success of the business and expect them to take it lying down.

“These massive profits will mean yet another bonanza for shareholders and the boardroom but no such luck for staff.

“Amicus is prepared to ballot its members for industrial action unless HSBC gives its staff an equitable share of the profits in the same way it does for shareholders and members of the boardroom.”