HSBC Malta Staff Hold Sit-In Strike Over Compensation Dispute

For the first time in years HSBC Malta employees have staged a sit-in strike after their union ordered staff to log off systems and communication channels at 12.30pm today.

The Malta Union of Bank Employees (MUBE) issued the directive this morning accusing HSBC of refusing to engage in serious talks. The union said it had no other option but to push ahead with industrial action.

The dispute is tied to the bank’s impending sale to CrediaBank. Times of Malta reported that MUBE is pressing for between €50 million and €60 million in terminal benefits for staff under a collective agreement clause.

The union argues that since employees’ official employer is about to change workers are entitled to compensation. But with CrediaBank publicly ruling out job losses for HSBC Malta’s 900 plus staff the interpretation of the agreement has sparked a stand-off.

In its directive MUBE accused HSBC Malta of failing to present any proposals or enter meaningful negotiations. It also raised doubts over whether the bank had been upfront with potential bidders about staffing issues.