Reported 3 months ago
Employees of mainland financial institutions in Hong Kong are facing demands to refund portions of their previously awarded bonuses, with some amounts reaching over HKD 10 million. This demand comes amid a wave of layoffs and salary reductions in the mainland financial sector. Reports indicate that during a recent inspection by central authorities, staff at Everbright Holdings were asked to return bonuses that included excessive expenses like meals and accommodations, and some deferred bonuses were halted altogether. Affected employees, predominantly frontline project staff, are being evaluated against new performance metrics for prior bonus assessments, raising concerns about contractual violations and the potential impact on Hong Kong's international financial reputation.
Source: YAHOO