I am publishing this report in both blogs since it is so shocking. BM in New York said “I have been very sick for a long time and have been in and out of hospitals more times than I can count. When I finally did get to go back to work, I only worked for a few months and was laid off. I could not make the monthly payments and sent what I could afford. This was never enough. HSBC called day and night, and always claimed that they wanted to work with me, but to do so, I had to pay a certain amount that was more than I could afford. I tried to explain about my illness, and the fact that I had lost my job, and that was not good enough for the greedy vultures. HSBC turned me into a collection agency and then, they started harrassing me day and night until I sent them a cease and desist letter. Then HSBC called and said they wanted to work out a payment settlement, and I told them that I am terminal and have about 2 months left to live and they told me to pay off what I owe before I pass.”
Archive for » November, 2008 «
HSBC’s India arm is likely to spell the bad news of job cuts to employees soon. Sources within the organisation said all employees have been put under the scanner and the pressure to outperform is tremendous. Ths situation is being monitored on a day-to-day basis and layoffs could start in the next few weeks, the sources said. Though it is not known how many employees would be laid off, the number could well be about 200.
Layoffs here and there, 2 in Tucson, at least 3 more in Phoenix area. I was let go over a month ago for ‘performance’ issues. Everyone today that I’ve heard from was on “CA” (Corrective Action) and was let go at the end of or in the term of the action. I’m not angry, the severence is fair in my view. But, what’s interesting is this. I know my branch manager, his boss the District Manager, his boss the Regional Manager and so on are all NOT hitting their business plan goals so far this year. Are they all on “CA” too? When are they going to be gone? It’s blatantly clear that it’s about selective application vs. an objective outcome or results vs. business plan way of trimming us from the company. I think the whole Western Region would have to be shut down if “CA” policy was really objective.
My thoughts on a Friday afternoon take me back to last year at this time, when we all went through the same thing with “restructuring and optimization.” I received information today that I cannot publish, but I can paraphrase what was said. Maybe it will help. Read between the lines and you can see what I was told.
Let’s catch up on a few comments. Here is the first one: “HFC is laying off productive employees. They don’t have the products to sell to consumers that they are soliciting. The marketing department is soliciting to all the wrong clientel. Consumers call into the branch with offers and high hopes. The credit is pulled and DECLINED.” Speaking to the same issue, another person said “We all basically know the branch based consumer finance business of old is on its last leg. We know we have few options in this contracting economy and we’re tired of virtually no upside, no earning power and always being caught in the middle with nothing good to sell to our people.”
