Delaying Job Cuts Because Of Pandemic

[Axtremus]

Coronavirus: HSBC puts 35,000 job cuts on hold
https://www.bbc.co.uk/news/business-52450850

“HSBC has paused plans to cut 35,000 jobs, saying it does not want to leave staff unable to find work elsewhere during the coronavirus outbreak.
The bank announced the cuts in February as part of a massive cost-cutting programme.
But boss Noel Quinn said the "the vast majority" of redundancies would now be put on hold due to the exceptional circumstances. ...”

[jon-nyc]

Good for them.

[Loki]

35k over three years. Couldn’t you get that through normal attrition?

[Axtremus]

@Loki said in Delaying Job Cuts Because Of Pandemic:

35k over three years. Couldn’t you get that through normal attrition?

"Normal attrition" for HSBC is 25k per year, so under "normal" circumstances HSBC could get to 35k in 20 months. But now is not exactly "normal" time, so "normal attrition" likely does not apply.

[Mik]

Good move.