HSBC ‘to cut managers’ sick pay’

Financial institution HSBC has revealed plans to reduce some of its employees' sick pay and increase the number of outlets which open on Saturdays.

The banking giant will cut branch managers' sickness absence pay to 26 weeks as part of an effort to bring them into line with the majority of the company's employees, but union leaders have already voiced stiff opposition to the idea.

"As a bank, we are no longer competing for a share of our customer's wallet, but rather for a share of their leisure time," said HSBC network chief Peter Keenan. "We need to be open not just when our customers are working."

Unite national officer Cath Speight condemned the proposal and claimed management workers are doing an "outstanding job" for the company.

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Earlier this week, Tina Lamb of workplace training organisation the Impact Factory claimed some employees are being promoted beyond their ability to management positions.

Posted by Hayley Edwards