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Last Updated: Wednesday, 11 May, 2005, 11:18 GMT 12:18 UK
HSBC staff vote for strike action
HSBC bank
The walk-out will take place just before the Bank Holiday weekend
Workers at High Street banking giant HSBC have voted in favour of strike action in a dispute over pay.

The Amicus union is warning of major disruption and branch closures during a one-day strike on Friday, 27 May.

About 68% of votes cast were in favour of a walk-out in protest at a pay deal which, the union said, will lead to a wage cut for thousands of workers.

Amicus said it expects more than 10,000 workers to take action on the same day as the bank's annual meeting.

HSBC branches will be closed for four days as a result of the strike.

Record profits

In a BBC interview, Amicus national secretary Rob O' Neill, said his members were "deeply unhappy about an imposed pay offer...at a time when the bank has made record profits".

HSBC has lost the hearts and minds of its staff
Rob O'Neill, Amicus

Earlier this year, HSBC revealed a 37% rise in pre-tax profit to �9.2bn ($17.6bn) for 2004.

The union claims the new pay package, which HSBC says is weighted in favour of the lowest paid, will actually leave 10% of staff without a pay rise, while a further 45% will receive a below-inflation increase.

Amicus is also opposed to a new bonus scheme, which will be related to performance rather than pay.

"HSBC has lost the hearts and minds of its staff but it will only take a small step by the bank to regain them," said Mr O'Neill.

"We are urging HSBC to work with us to resolve this dispute."

The union plans to also stage a demonstration outside the bank's annual meeting on 27 May as part of its campaign against the new pay package.


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