“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.”
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