News: HSBC employees part with pay to cover HQ's errors

Compensation & Benefits

HSBC employees part with pay to cover HQ's errors

In a first of its kind, several HSBC employees will forego a part of their bonus and pay hikes to bear the burden of its UK HQ’s involvement in the black money probe. The banking corporation declined to comment on this move. HSBC Geneva has been under probe with reports that several individual accounts hold black money with the bank.

In a first of its kind, several HSBC employees will forego a part of their bonus and pay hikes to bear the burden of its UK HQ’s involvement in the black money probe. The banking corporation declined to comment on this move. HSBC Geneva has been under probe with reports that several individual accounts hold black money with the bank.

Read the Economic Times news report here.

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Topics: Compensation & Benefits, #Current, #Corporate

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