Midland staff threaten to strike on pay
Monday 15 August 1994
The threatened action comes as Midland's parent, HSBC Holdings, prepares to announce a leap in profits. Figures due today are expected to show half-year pre-tax profits up by about 15 per cent to more than pounds 1.35bn. Midland's own pre-tax profits are forecast at about pounds 300m.
The union, which has rejected a 2.25 per cent pay offer, has begun balloting clerical staff. It has set a deadline of 26 August for voting to be completed, and said any strike action would be likely to start in September.
'Staff at Midland have lived through lean years but now they want their promised share of the better times,' the union's negotiating officer, Bernadette Fisher, said.
'Fortunes are being made in Midland but the staff only get a 2.25 per cent share. This is corporate greed of staggering proportions. Large profits are being generated, but at the expense of staff salaries.'
Like the rest of the UK banks, HSBC is expected to show flat lending growth when it reports its six-monthly figures today.
Provisions against bad debts are expected to fall, while high inflation in Hong Kong will probably drive up costs, according to analysts.
Dealing profits are expected to be a problem area following market turbulence in February. There have been strong rumours in the City that Midland Global Markets had an especially difficult February/March.
- 1 Gwyneth Paltrow and Chris Martin file for divorce after 10 years of marriage
- 2 Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
- 4 Bookies now say Ed Miliband is more likely to be prime minister than David Cameron
Gwyneth Paltrow and Chris Martin file for divorce after 10 years of marriage
Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
Katie Hopkins and The Sun editor David Dinsmore reported to police for incitement to racial hatred following migrant boat column
'Jihadi John': Isis executioner Mohammed Emwazi wanted to wage jihad in Somalia until his friends were betrayed and killed by al-Shabaab
Parma, Missouri: 80 per cent of town's police quit after first black mayor is elected
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
Katie Hopkins on LBC: Listen to caller taking The Sun columnist to task over migrant comments
iJobs Money & Business
£12000 - £15000 per annum: Recruitment Genius: An expanding Insurance Brokerag...
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£30 - 35k (DOE): Guru Careers: We are seeking a Pricing Analyst with experienc...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...