HSBC pay win

Around 18,000 lowest paid bank workers will get payment in August to help with rising living costs.

Unite, the union representing bank workers at HSBC has today won a £1,500 cost of living payment for the lowest paid staff.

Dominic Hook, Unite national officer said, “Unite has worked tirelessly to demonstrate to HSBC the need for urgent action to help thousands of employees facing the largest squeeze on their incomes. This extra £1,500 payment demonstrates the importance of the collective trade union voice in the workplace.

“HSBC UK has acted following dialogue with Unite which demanded support for employees through the current financial challenges brought by increases to household bills. The union will continue to campaign to ensure all staff receive a fully consolidated pay increase to ensure pay rates keep up with living costs.”

The payment will be made in the August pay round.

Following successful campaigns by Unite finance sector the following financial organisations have now given their lowest paid staff a cost of living payment: Barclays, Natwest, Lloyds Banking Group, Co-operative Bank, Virgin Money, TSB and Standard Life ROI.

Unite is dedicated to advancing the jobs, pay and conditions of its members and will fight back against any efforts to diminish workers’ living standards.

By Saba Edwards