Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (39708)	10/17/2003 2:48:01 AM
From: elmatador	Respond to of 74559

HSBC to cut 4,000 jobs in the U.K., move them to Asia (HBC, UK:HSBA) By Steve Goldstein LONDON (CBS.MW) -- HSBC (HBC) (UK:HSBA) said late Thursday that it will cut 4,000 jobs in Britain over the next three years and move them to Asia. The bank, which employs 55,000 in the U.K., said it will move processing and call center jobs to India, Malaysia and China starting in January. "As one of the world's largest financial services companies HSBC has a responsibility to all its stakeholders to remain efficient and competitive," said Bill Dalton, chief executive officer of the bank's U.K. consumer unit. The UNIFI union said it would try to prevent the move. COMMENTS: All that is very good news. This will increase the market for teleocmmunications in Asia and it is very good to lmat who builds telecoms networks. It must send a message to Europeans and North AMericans that they have to deflate salaries, and deflate government via tax cuts. We need to see Germany's Schroeder brandishing this news on parliament to show that labor reforms are a must!!