HSBC to move back-office jobs to Guangzhou over next 3 yrs: report

HONG KONG (AFX-ASIA) - HSBC plans to move a "significant number" of back-office processing jobs at the Network Services Centre and Card Operations Centre in Hong Kong to Guangzhou over the next three years, the South China Morning Post cited a bank internal document as saying. "While the bank is taking a lead, we believe that more and more Hong Kong companies will undertake similar migration exercises for processing roles," the document said. According to the report, employees affected by the transfers will be asked to accept retraining and relocation to new jobs in Hong Kong where possible. The report said the bank did not reveal how many people will be laid off but only said: "Redundancy will always be our last resort." The move from Hong Kong to Guangzhou will begin next month with the transfer of card operations, and a second save of jobs in the Network Services Centre department will be transferred in September.

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