Friday, October 22, 2010

Winning ( Chapter 8 ) Parting Ways - layoff by HSBC

Work isn’t a perpetual paradise. We will discuss how to manage a parting of ways with as little pain and damage in this chapter. Usually, the manager carries out letting ways in 3 situations.

1)      Firing for integrity violations
2)      Layoffs due to economic
3)      Firing for nonperformance

In the movie of Up in the Air is based on a novel which is published in 2001. Ryan Bingham ( George Clonney ) is a consultant who is conducting layoffs for bosses. He needs to travel around United States and delivery the lay offs message between the large firms. He also delivers motivational speeches, using the analogy “What’s In Your Backpack?” to encourage the jobless people to start a new life. Actually, he brings the new vision, courage and optimistic until the end of each parting ways conversion. 
Another character Natalie Keener ( Anna Kendrick ), she issues a brand new plan to cut costs. She implements a new method which is using internet web cam meeting service instead of the old fashion firing people process. However, she doesn’t have any experience on firing before. After she faced the impulsive anger from the employees, a death notice from a fired woman and her boy friend dumps her via a text message. She realizes that the firing process should include, build up his/her self-confidence, coach him/her and let him/her know there is a good job. The goal for the fired employee is a soft landing wherever he goes.
HSBC in Hong Kong carried a lay off 500 staffs in Asia after the first month of the financial tsunami in Oct 08. The superior announced that this was the formal action due to deteriorating economic conditions and its cautious outlook for 2009. Meanwhile, some of the layoff employees claimed that HSBC fired the employees for a bogus reason. Many of the workers with 15-19 years of service for HSBC faced the axe in this layoff process. On the Blog message from one of the staff was “One individual was fired because they did not delete an email that was (inappropriate) sent to them by some else 4 years ago.”. Several similar cases such as 5 minutes late attending to office or after lunch period were also used as a non-performance reason.

It seems there was patterns with HSBC letting people go with 15-19 years of service. Many of these employees were grandfathered under the household pension plan. This is a nasty procedure to get rid the employees to save on pension costs. All the layoff employees’ personal belongings were shipped by the courier instead of carrying out of the entrance from HSBC to protect its brand image and get rid of investigation by the news reporters.

In the end of this chapter, Jack Welch indicates that if the persons have an integrity violation, you should kick them away from the door and fast. In most of the cases, the manager faces the layoff due to economic crises. The manager should let someone go in right condition with no surprises and no humiliation. According to the action in Oct 08 of HSBC, it is shame that this bank is nominated as the best private bank in the world. In my point of view, to be honest, FUCK YOU HSBC.

Up in the Air - Trailer

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