HSBC employees are planning a 'sick-leave protest' next week after a rumour made the rounds that the bank will sack up to 1,000 people after the Lunar New Year holiday.
An online campaign is calling for HSBC staff to phone in sick next Thursday, when the bank reopens for business after a three-day break.
The brewing labour dispute comes as Hong Kong reported improved employment. The jobless rate fell to 3.4 per cent last year from 4.4 per cent in 2010, according to official figures released yesterday.
The latest jobless rate was 3.3 per cent for the last three months of 2011.
Hong Kong and Kowloon Trades Union Council chairman Lee Kwok-keung said: 'Some of our members heard from HSBC's human resources people that there will be mass lay-offs soon.
'It seems to be in line with the usual practice ... big companies like to fire people during a long holiday to avoid public attention. We understand that up to 1,000 people might be affected.
'We understand that some employees will stage a sick-leave protest next Thursday as an unofficial strike.'