Circular to HSBC staff highlights union’s frustration over lack of proposals

The Malta Union of Bank Employees (MUBE) has confirmed that directives issued earlier this week against HSBC Malta have been temporarily suspended, pending the outcome of a conciliation meeting scheduled for today.

In a circular sent to its members at HSBC, the union said it regretted that “to date the Bank is yet to make a concrete proposal to unblock the impasse and initiate discussions.” It stressed that the suspension was in line with recommendations by the Department of Industrial and Employment Relations (DIER), but warned directives would “immediately resume if [the] offer is not reasonable.”

The suspension follows a turbulent week of industrial action.

On Monday, HSBC workers were instructed to log off their systems and stage a sit-in strike after the union accused the bank of failing to engage in discussions over demands for staff compensation tied to the bank’s impending sale to CrediaBank.

HSBC later confirmed that the strike had disrupted several of its services, particularly its contact centres, though emergency card support remained available.

The dispute centres on claims that, under a collective agreement, employees should be entitled to compensation given that their employer is changing hands.

The union is reportedly seeking between €50 million and €60 million in terminal benefits for HSBC Malta’s 900-plus employees. However, with CrediaBank ruling out any job losses, there is disagreement over whether the clause applies in this case.

In its latest communication, MUBE said it remained committed to engaging in “meaningful and substantive discussions” with both HSBC Malta executives and the DIER. A meeting has been scheduled with HSBC Continental Europe Deputy CEO Chris Davies, which the union says will determine the next steps.

“The duration of the directive suspension depends on the outcome of today’s meeting,” MUBE stated, adding that members would be informed of developments.