Question about more layoffs at Beneficial and HFC
Editor’s Note: See latest reports on layoffs and reorganization here
JS in Maryland asks “Why havn’t there been any reports on here recently about more layoffs and Beneficial and HFC branch closings next week? We’ve heard another 100-200 by October 10th. Do any of your insiders have any other info? There are a lot of concerned branch employees and their familys out there. DGMs met one on one with their RGMs. Have heard more mega branchs and consolidations. Does anyone have any info on how they are making their decisions this time around? Will it still be based on performance or would it be seniority. Any insight would be appreciated. Thanks!”
That is a good question. HSBC has been very silent, and employees have been voting in our polls but we have not received any valid information concerning the next round of consolidations. I agree with you that many employees are concerned, as are their families. The concern is valid. If you remember back to Thanksgiving 2007 there was very little to be thankful for as layoffs and cutbacks struck with full force.
If you have any information let us know. We publish after we have the same input from more than one source, where the input matches valid research in other areas.
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