DR in Virginia said: ” I have worked for HSBC Finance/Household Finance/Beneficial Finance for some time now. I have managed multiple Branch Offices and shared great success as an employee of this Company. In the time I have been with the Company, I have had first hand accounts that the culture in the Company is the detrimental aspect of the entity for both the customer and the employee. At this time in the economy, many of the employees in the United States have the wonderful opportunity to be concerned that each day they come to work, may be the last day their Office is open to do business.
The numerous closing and liquidation of assets has caused a great number of employees to “displaced” as the Company states in bulletins. This creates not only a problem for the customer but also for the employees. Reason being; with so many displaced employees, the Company is being very cautious to offer Severence Packages and having all employees that agree to their termination sign a release alleving any possibility of future lawuits for the unlawful or discriminatory release. In some situations, persons who are older, less healthy, or have more personal issues than others, regardless of current or past success; are released from employment or offerred a demotion, in some cases, going back two career bands (Career Banding is an internally defined Career Structure).
I have also witnessed persons loosing bonusses and even portions of salary for unjust reasons such as being demoted in the first half of a month, accepting a new positiong prior to the 15 of the current month but not starting the position until the following month. In one instance, I observed an employee writing out an income calculation grid as trained over the years by middle and upper management, and then being terminated for it. When a Company looks to trim the fat, even a Company can cut too deep and cause infections within the employee base.
I fear that the monster we used to understand put people in difficult situations to manage, much because of speculation on housing value and interest rates. If we, as an economy, are not more careful, the oil price situation will leed us into the lowest dip on this rollercoaster ride. If property value decreases or stays stagnant for too long, the cost of consumable goods and oil could cause a rental boom opening the door for multi-housing finance opportunities. One day, HSBC will be held accountable for their actions, whether by God or a lesser entity.”
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