11th Feb 2016 10:46
LONDON (Alliance News) - HSBC Holdings PLC has cancelled plans for a pay freeze in 2016 but has kept a hiring freeze in place, according to Reuters, which cited an internal memo from Chief Executive Stuart Gulliver.
Gulliver said he had listened to "feedback and have as a result decided to change the way these cost savings are to be achieved", Reuters said.
Shares in HSBC were down 3.6% at 425.50 pence on Thursday morning.
http://uk.reuters.com/article/us-hsbc-pay-idUKKCN0VK0UV
By Samuel Agini; [email protected]; @samuelagini
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