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You're browsing: HSBC News » Jobs and Layoffs » Article Title: 107 HFC and Beneficial branches might close
21
Nov
107 HFC and Beneficial branches might close
Volunteer

Short and to the point, we received this input today: “Just confirmed with upper upper management another 107 branches to close by end of December 2008.” The information seems to be supported by other employee reports and generic press releases pertaining to HSBC Mortgage. Adding to the information another person said “Major events at HSBC NA:
*Closes Decision One Mortgage
*Closes HSBC Auto Finance
*Closes HALF of all Beneficial/HFC branches in 07′ and 08′.
*Closes HSBC Mortgage (wholesale/correspondent) lending unit.
*Massive reduction in force and office closures at Solstice.
*Massive reorganization and re-alignment in HR eliminating substantial #’s of jobs.
*Massive total compensation reduction (bonuses) in 07′ and 08′.

Why anyone at HSBC NA would think they’ve got a future or career at this company years from now is beyond rationality?”

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  4. More information on HSBC Florida closings
  5. HSBC DGM level says 70 to 80 branches, October 30 decision

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