HSBC Malta employees are staging a sit-in strike following a directive issued by the Malta Union of Bank Employees (MUBE) on Monday.
The directive, which came into effect at 12.30pm, instructed staff to log off all communication channels and banking systems “until further notice.”
The dispute centres on the union’s push for employee compensation ahead of HSBC Malta’s planned sale to CrediaBank. Sources told Times of Malta that MUBE is demanding between €50 million and €60 million in terminal benefits for workers, citing a clause in the collective agreement.
The union argues that, with employees’ employer set to change, staff are entitled to compensation. CrediaBank, however, has ruled out any job cuts among HSBC Malta’s 900-plus employees, raising questions over whether the clause applies in this case.
In its directive, MUBE accused HSBC Malta of failing to engage in “meaningful discussions” or to put forward “any form of proposals,” leaving it “no other option” but to escalate. The union also voiced “serious concerns” over whether HSBC has been transparent with potential bidders regarding staffing issues.
