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In the Household – HSBC Watch follow up file, we found out what happend to the HSBC cleaning crew member who asked for a living wage. Most people thought he would be fired, but such was not the case.
Two years ago, a cleaner stood up at HSBC’s annual general meeting and asked chairman Sir John Bond to see what he could do to increase cleaners’ £5 hourly wage. Present at that meeting was William Aldinger, the then head of HSBC’s Household International business, who had just been awarded a three-year pay deal said to be worth £21.3m. But that story did have a happy ending. The same cleaner returned to HSBC’s annual general meeting last year, and thanked Sir John for pushing through a wage increase to between £6.40 and £7.10 per hour.
When the incident happened it was reported that “when Aldinger was introduced, one member of the cleaning crew asked about a pay raise but was summarily dismissed.” William F. Aldinger has been fined, sued, connected to, or held responsible in some way for more settlements than any other executive in the world. Such is a legacy of predatory lending and skirting the law. He is presently involved with Cingular Wireless, AT&T and Charles Schwab. Beware!
This article, Follow-Up Story on HSBC Cleaning Crew, is just one of our articles from our Bank Horror Stories, HSBC Secrets Part 3
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
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