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HSBC has worst gender pay gap in Britain

10-4-2018

The largest bank in Europe, HSBC, has topped the list of large British companies witnessing a large difference in salaries between male and female staff. The bank pays men 59% more than women, posting the biggest pay gap among companies with more than 5 thousand employees in the UK, according to an analysis on pay figures conducted by Reuters covering 491 of the leading firms, government departments, charities and local authorities, which employ more than 5,000 people. Virgin Atlantic came second, with men receiving 58% more, followed by a unit of Barclays (48%). To recall, the British prime minister, Theresa May, has since she got power introduced long-planned reforms forcing companies with 250 employees or more to publish details of the pay difference between male and female staff by last Wednesday evening and report back annually on the issue. According to Reuters analysis, men’s salaries are higher in over 97% of organizations, with women receiving higher pay in only 3% of these organizations. (Al Hayat, April 6, 2018)

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