Global bank HSBC Holdings Plc expects to double its Asian back-office workforce in three years and axe more clerical jobs in the West to help it save more than $1 billion, a top executive said on Wednesday.
The world’s second-largest bank by market value has 13,000 workers in 10 global back-office service centres around Asia, providing mainly clerical and phone support and replacing jobs in higher-cost centres in the United States and Europe.
“I don’t have a precise target but I would be surprised if we had less than 15 (global service centres) in three years’ time and very surprised if we had less than 25,000 people working in them,” Chief Operating Officer Alan Jebson told reporters.
Jebson, speaking on a visit to Malaysia, where the bank has its biggest global service centre employing about 2,000 people, has a target to save more than $1 billion in the four years ending December 2007 and is accelerating the move to low-cost locations.
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