BRASILIA: Layoffs by HSBC bank in Brazil will likely top 1,000 this week, the workers’ union said, after employees staged angry protests against job cuts by the London-based firm. HSBC slashed 4.5 percent of its workforce across the South American giant, according the Contraf-CUT bank workers’ union.
Employees protested the layoffs on Friday in the southern city of Curitaba, where 130 workers were dismissed, according to the workers’ union. Talks between Contraf-CUT and HSBC have reached a stalemate in Brazil’s capital, Sao Paulo. Representatives of the company did not immediately respond to requests for comment. HSBC is Brazil’s fourth largest bank in Brazil, according to official figures. AFP
