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BOC Official: News of 6,000 BOC (HK) Employees Laid off not True
News saying Bank of China (Hong Kong) Ltd. dismissing 6,000 employees does not tally with the facts, Liu Jinbao, chief executive of the BOC Hong Kong-Macao Regional Office, clarified Thursday in Hong Kong.
In the news briefing of BOC medium-term achievement, Liu told the journalists that the personnel policy adopted in BOC (HK)'s restructuring was formulated on the basis of repeated consultations to management advisers and long-term study. BOC employees generally made favorable responses to it when it was made known to the public. Presently, BOC has finished two rounds of shuffling work smoothly. Among the 6,000 employees to be selected, more than 5,000 have already found suitable posts. Only a few hundreds are left for further positioning.
On the basis of the working record of the employees, Liu added, the Group is busily making analysis and sorting work so as to unfold the third round position program. It plans to make known the result of the selection in mid-September. Those who are not positioned in new banks will be rearranged, to the full, to work in Nanyang Commercial Bank Ltd., Chiyu Banking Corporation Ltd., and BOC Credit Card (International) Ltd. (BOC-CC) through internal realignment.
Sources say that by the end of June, the total assets of BOC (Hong Kong) Ltd. reached HK$870.5 billion. With 10 banks involved, the restructuring this time is a rare case ever seen in the world.
By PD Online staff member Du Minghua
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