HSBC backtracks on pay freeze

11th Feb 2016 13:15

(ShareCast News) - HSBC backtracked from a decision announced earlier in the week to freeze pay after some employees pushed back.In a memo sent to staff on Thursday the lender's boss, Stuart Gulliver, said not everyone would obtain a raise, although those who had won one as part of their annual pay reviews would, the Wall Street Journal reported.The increases would be paid out of the 2016 bonus pool, he said.-- More to follow --