Chief Operating Officer Alan Jebson said HSBC would save about $20,000 for every job it moved to Asia. HSBC runs four service centers in India, three in China and one in Malaysia, one in the Philippines and one in Sri Lanka. Vietnam could be its next outpost, where there is a high population of English and French speakers. HSBC wants to trim jobs in the United States and England where the cost of living is higher. And it’s hard to take a $20,000 per year pay cut to stay employed unless you are the CEO.
As for Metris, which had their own problems with regulators, Household International (HSBC) doesn’t want skeletons jumping out of their own predatory lending closet. Information sharing will be a one-way street according to experts.
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