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 Reader dilemma: 'My boyfriend jokes about putting photos of us having sex on Facebook'
- 2 Kenya President Uhuru Kenyatta clashes with President Obama on LGBT equality: ‘Gay rights is really a non-issue’
- 3 Ralkina Jones: 37-year-old black woman found dead in police custody
- 4 Kanye West praises Caitlyn Jenner on I Am Cait: 'You couldn't have been up against more'
- 5 Five-year-old boy forced classmate to simulate oral sex at primary school, claims mother
Mystery over deaths of 3,000 Napoleonic soldiers in mass grave has been solved
Global Peace Index: Ukraine tops list of countries with the worst relations with neighbours
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
Rolling Stones guitarist Keith Richards, 71, still enjoys 'an early morning joint' for breakfast
Denmark bans kosher and halal slaughter as minister says ‘animal rights come before religion’
The 9 charts that show the 'left-wing' policies of Jeremy Corbyn the public actually agrees with
Labour leadership contender Jeremy Corbyn says 'we can learn a great deal from Karl Marx'
The last thing Labour needs is a leader like Jeremy Corbyn who people want to vote for
What the Labour party could look like under Jeremy Corbyn
I am the Jeremy Corbyn supporter that many will tell you doesn't exist
Public anger after French sunbather beaten up by gang for wearing a bikini in Reims park
iJobs Money & Business
£18000 - £40000 per annum: Recruitment Genius: This fast growing Insurance Bro...
£40 - 45k (DOE) + Benefits: Guru Careers: A Research Associate / Research Anal...
£30000 - £35000 per annum + benefits : Ashdown Group: Finance Accountant - Fin...
£90000 - £98000 per annum + benefits : Ashdown Group: A truly exciting opportu...