HSBC, UK union agree terms for moving jobs

The world’s second-largest bank HSBC Holdings said on Monday it had agreed terms with a trade union for moving 4,000 jobs from Britain to India, Malaysia and China. The finance trade union UNIFI, which had threatened industrial action in October when HSBC first said it was moving UK call centre and bank-office jobs abroad, said the deal would help keep compulsory redundancies to a minimum. Under the agreement, UNIFI and HSBC will try to find other positions in the bank for those who have lost their jobs. Barclays Plc was the first British bank to reach terms with a trade union for moving jobs abroad.