10/12/2007 12:20:00 PM 30 bank jobs look set to be axed
Meredith Ebbin
The Bank of Bermuda is set to shut down its Call Centre and move it offshore to Canada as part of a cost-cutting drive, the Bermuda Sun has learned. About 30 positions will be lost as a result of the move.
Exactly when the axe will fall on the centre is not known.
The Call Centre provides a popular service that allows customers to order bank drafts and U.S. and other foreign currency by telephone, thereby eliminating the inconvenience of waiting in line at the bank for teller service.
According to information reaching the Bermuda Sun, it's only a matter of time before Bank of Bermuda customers begin placing their orders to HSBC employees in Canada.
It will be the latest in a round of job cuts that began in 2004 when the Bank of Bermuda was acquired by global banking giant HSBC for $1.3 billion.
The Bank of Bermuda would neither confirm nor deny the move when we asked for a response on Tuesday.
A spokesperson would only say: "The Bank of Bermuda is looking at initiatives as we move into 2008, in order to both take advantage of the latest technology, increase efficiencies and to provide additional service enhancements to our customers.
"One such initiative relates to our call centre. Our aim in all such cases is to notify our staff as far in advance as possible of any such changes."
When we asked the bank to elaborate, the spokesperson said the bank had nothing more to add. n
Reader Comments
Posted: Thursday, October 18, 2007
Comment by:
Spykid
That may be true Newyorker, but we allowed for this Multi-national Corporation to take over a national bank. That wasn't necessarily a good idea to begin with.
Posted: Tuesday, October 16, 2007
Comment by:
Newyorker
Standard operating procedure. HSBC will outsource as many positions as it can in order to improve profitability. Back-office support roles are prime targets. Bermuda's labor rates are some of the most expensive in the world, so this should not be a suprise to anyone.
Posted: Monday, October 15, 2007
Comment by:
Brian
I remember not long ago when PLP Government MPs said that this would not happen.
Food for thought.
Posted: Monday, October 15, 2007
Comment by:
Spykid
