Brazil bank unions say HSBC and Bradesco promise no mass layoffs

August 4, 2015 8:32 PM

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SAO PAULO Aug 4 Brazilian bankers' unions said on Tuesday that management from Banco Bradesco SA and HSBC Holdings promised there would be no mass layoffs due to the sale of HSBC's Brazilian operation, announced this week.

"Both banks promised there would be no mass layoffs and reiterated their openness to dialogue with the labor movement," said Juvandia Moreira, head of the bankers' union in Sao Paulo, in a joint release with state and federal union leaders.

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