HSBC scraps Hong Kong school-fee subsidy for new hires as cuts bite
HSBC has ended its education allowance for newly hired or promoted senior executives in Hong Kong, though staff who already hold the benefit keep it. The perk covered up to 95% of tuition, worth as much as about US$38,000 a year per child at secondary level, as CEO Georges Elhedery pushes a wider cost-cutting drive. — South China Morning Post