Household HSBC Watch

It seems like the Irish are not the only HSBC employees losing jobs. HSBC’s Livingston call center is closing. The bank said that although the staff would hopefully be absorbed within the company’s Scottish workforce it is no longer cost effective to keep the West Lothian location open. HSBC admitted that some […]

With the United States in a recession the double-speak is interesting. Some call the recession of 2000-2001 a “mini-recession.” Now HSBC’s Douglas Flint has a “technical recession.” HSBC finance director Douglas Flint said: “The issue now is the US slowdown and whether it enters a technical recession, and what that does to […]

Seen in the comments section of Market Watch: “Companies like HSBC should be run out of town. They are crooks. Try getting them on the phone about an error. I hope they go broke.” The article is titled “Wednesday’s Personal Finance stories” and the actual web page is titled “credit-card gripes grow, but […]

The Philippine peso may slide 14 percent against the dollar to a three-year low by June 2009 as the nation’s trade deficit widens and foreign investors shun local assets, according to HSBC Holdings Plc. It is not good news for workers. HSBC Philippines is not just a call center. HSBC Philippines is […]

Doesn’t this just sound sweet as candy: “More than 5,000 employees from HSBC-North America’s HFC and Beneficial branches as well as HSBC Credit Centers will team up with Rebuilding Together and other community organizations nationwide in a wide variety of community service and environmental projects. The HSBC philanthropic initiative, called “Joined Up to Give […]

HSBC Plc sees Islamic finance as a profit center, pushing Amanah in metropolitan areas around the world. Let there be no doubt that HSBC is catering to potential customers around the world, not just in the Middle East. The problem, as we see it, is HSBC may get caught in the middle if […]

An HSBC Finance employee advised us of this frightening move by HSBC, saying “As a current employee I am appauled to see Beneficial and HFC’s latest trick which seems to be avoiding federal caps on interest rates. As of May 5th they rolled out their new pricing sheets with rates set above the […]

HSBC was awarded a GBP 1 million grant in 2006 to create jobs in Scotland. Instead HSBC is closing a payment processing center in Livingstone, Scotland, leading a loss of 164 jobs. HSBC officially says the people can find other jobs in Scotland. I doubt that many would move to Edinburgh and […]

HSBC is pioneering an offshore legal function to service its UK volume legal queries, in a move that threatens to make corporate counsel the latest back-office commodity to be relocated to Asia. Now not only can customer service calls be answered in India, Malaysia or the Philippines, but legal queries might be off-shored. […]

HMC is a wholly owned subsidiary of HSBC, which is a subsidiary of HSBC Holdings Plc. HMC is located in Depew, NY, with a subprime collections unit in Elmhurst, IL. In addition to its U.S. locations, HMC has operations in HSBC’s group service centers (GSC) in Bangalore, India and Manila, Philippines.

The GSC sites perform […]