Horace Mann reported their third quarter earnings this week. No matter how HSBC spins their profitablility from emerging markets, Horace Mann discovered that the company’s exposure to HSBC North America Holdings resulted in a net loss. Horace Mann Educators Corporation is the largest U.S. multiline insurance company focusing on educators’ financial needs. The company is eligible for help from the TARP program, commonly called the ‘U.S. bailout.’
Archive for » October, 2008 «
Category: General News
Leave a Comment
“It is confirmed. 102 branches closing in the United States! HSBC has proven again that they really don’t care about their people when it comes to making choices. Meetings are in progress starting October 29, 2008 and the districts will be communicating their managers some time next week. We are going from 13 divisions to 9 divisions in the country. The major impact will be in Florida, California, and Arizona. Four DGM’s in the country are being asked to step down or offered severance package. Don’t have exact numbers how many DSM’s, BSM’s and sales staff will be impacted. But again it’s that time of the year where HSBC is laying off people during holiday season like they did last year in 2007.”
Category: Jobs and Layoffs
Leave a Comment
The reports were correct. Just got informed of office closures in my state, Florida, and DSM asked to step down to BSM’s. Ladies and gents its not looking good at all. Heard that Florida will only have 40 offices, about half of what it used to be a little more than a year ago.
Category: Jobs and Layoffs
Leave a Comment
According to my superiors within HSBC Finance, HSBC will not be participating in the government bailout for the following 2 reasons. 1) HSBC has billions and billions in cash stockpiles and has access to these funds in the event its subsidiaries really need to use this money.
Category: Jobs and Layoffs
Leave a Comment
I’m an AE on the Atlantic Coast (as specific as I want to get) and was informed that my DSM who worked for the company for over 17 years is no longer employeed anymore. When anyone asked “why, what happened?”, it was it was No One knows anything hush hush hush. It’s no wonder the company is “cutting the fat”. The company charges state max rate with state max fees and then pressures all the insurance the customer can get on the loan. If you don’t have good insurance numbers, then congrats you get to go to “boot camp” to get better at packing insurance on. I can’t believe people still take out loans there.
Category: Jobs and Layoffs
Leave a Comment
