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HSBC to honour 2016 pay rises for 28,000 UK workers-union

Wed, 03rd Feb 2016 17:36

By Carolyn Cohn

LONDON, Feb 3 (Reuters) - Europe's largest lender HSBC will honour agreed 2016 pay rises for over 28,000junior British workers despite a global freeze on pay, tradeunion Unite said on Wednesday.

HSBC is imposing a hiring and pay freeze across the bankthis year, as it pushes through with plans for annual costsavings of up to $5 billion by 2017.

"HSBC will abide by pay deals made with recognised tradeunions, such as Unite," Unite said in a statement, adding unionofficials met HSBC Bank Plc chief executive Antonio Simoes onTuesday.

The clerical employees will get a payout from a potrepresenting an overall 2.2 percent rise, Unite said.

HSBC did not immediately respond to a request for comment. (Editing by Rachel Armstrong and Mark Potter)

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