Catherwood LibraryILR School

Britain’s Hong Kong and Shanghai Banking Corporation has announced a settlement with part-time workers, represented by banking unit Unifi, who were denied pension rights by the company. The deal represents the first major settlement in a suit brought under a ruling last year by the House of Lords---complying with an earlier ruling by the European Court of Justice---that grants part-time workers backdated pension rights equivalent to those of their full-time coworkers. The settlement could apply to as many as 3,500 former and current employees and cost the banking corporation over $35 million, and will have a huge impact on the approximately 60,000 similar claims that have been brought under the Lords’ ruling.