Nervously waiting for the axe to fall tomorrow. I have been employed with Beneficial for 3 years now, and never have I seen employees treated in such a way. Rumors are 3 regions cut 2, 13 divisions cut to 9, and 150 offices closed across the country. Also, keep in mind, HSBC just changed their HR structure in Consumer Lending, which puts the HR role primarily in the DSM’s hands. So if you work for a DSM that does not like you very much, they literally have no oversight on pulling your plug. If they want you out, you are out. In addition, they rolled out the new HR structure to the Western region first, which, just coincidentally, will probably be effected the most by the closings, with NV, AZ, and CA all in that region.
Bottom line, you have residual HFC and Beneficial employees who participated in or constructed all the problems from before HSBC taking over, that are still in their seats, or worse yet, are higher up now. These are the shady characters advising you to call your customers over and over until the take the insurance. The ones telling you to sell them something, even though they don’t need it. The ones that are getting ready to fire you this week. Start preparing AE’s, SA’s, and BSMs. If you don’t get the boot this week, you will probably be getting it sooner or later!!! And don’t get me started on their tactics for credit discrimination at the underwriting level!
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