Risk Management and Prevention: Case Analysis of HSBC Bank

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Introduction- HSBC Bank is the second largest banking and financial services group globally. It originated in Hong Kong and Shanghai in 1865, and now boasts over 7,500 offices in 87 countries and territories. In the United States it has almost 500 branches, over 200,000 shareholders and millions of customers. With such a large and global enterprise, HSBC has a complicated service profile for both clients and employees it must balance the services and products offered with what is reasonable for that particular country based on its own financial earnings statements. The bank, originating in Asia, is now poised for more global growth, but still has certain challenges faced by many multinational corporations. At times, in fact, HSBC has failed to take the opportunities presented to establish a global leadership role in the area of human resources and employee rights, and in 2005, the organization was accused of severe violations of both Federal and State labor laws regarding a class action suit based on call center employees in New York, Virginia, Illinois, Nevada, and other US locations (Workers Sue, 2005). Summary of Case- James Stefaniak and Keith Pannaccion, former telephone call center employees for HSBC in Buffalo, New York, allege that HSBC failed to pay overtime as required by Federal Fair Labor Standards and New York State Law. The lawsuit alleges that many call center employees arrived early, worked during lunches and breaks, and stayed late based on requirements of
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