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HSBC drops plan for global 2016 wage freeze in speedy backpedal

Employee backlash forces CEO to reverse decision on pay rises but hiring freeze remains in place

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Mr Gulliver last month imposed a freeze on hiring and compensation as part of a drive to cut costs.

London

HSBC Holdings plc chief executive officer Stuart Gulliver cancelled a global pay freeze after less than two weeks following an employee backlash, according to two people with knowledge of the matter.

"We have listened to feedback and as a result decided to change the way

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