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 […]
I worked for HSBC for 19 years, most of that time in collections. I was recently fired for a bogus reason. Many of my fellow co-workers with 15-19 years of service for HSBC have also been let go. One individual was fired because they did not delete an email that was “inappropriate” sent to […]
According to Maryland newspapers, HSBC North America Holdings this month will close its White Marsh operation — HSBC Finance Corp. — and lay off 450 employees. With Boscov’s closing its Glen Burnie, Owings Mills and White Marsh stories, 400 people will lose jobs. Boscov’s signed a contract with HSBC and HSBC managed the Boscov’s […]
A former employee of HSBC in Florida sent us this opinion: “Ex-employee from HSBC, parent company of HFC/Beneficial collections team. First I would like to straighten some facts about prior to my bashing. This company is a pay for performance company and each employee has the bonus options. The better you […]
Forty-eight workers at HSBC Mortgage Services’ Chesapeake facility are losing their jobs. HSBC Mortgage Services notified state officials of the layoffs this week. The notice says the layoffs are effective Aug. 17 and are due to a permanent reduction of the company’s work force there. The Hampton Roads Economic Development Alliance says HSBC […]
We like developing nations, said HSBC. It is a matter of risk and reward, or as others see it, less risk because laws are less stringent. HSBC is not doing well in Korea, as the acquisition of KEB stalls. Charges of KEB Card stock price manipulation, links to the United States through […]
HSBC leaders in the UK think the U.S. subprime disaster has subsided. Mr. Geoghegan acknowledged that some homeowners are still having difficulty repaying their mortgages, and the situation in the U.S. is complicated by market volatilities resulting from the upcoming presidential election and inflationary pressures. Presidential election? How about a doubling […]
AK in Oregon sent this op-ed piece. We are publishing it here instead of in our complaints blog:
“HSBC- predatory lenders who slam insurance, offer over market rates and fees, and treat employees with disrespect.
When I started working at HFC I was just out of college. I was excited to have a job […]
Is this legal precedent that HSBC Finance should worry about? Rejecting the arguments of Countrywide executives and directors that they were unaware of lax loan operations that led to ballooning defaults, Judge Mariana R. Pfaelzer of Federal District Court in Los Angeles ruled Tuesday that she found confidential witness accounts in the shareholder complaint […]
We all know HSBC is laying off personnel at Beneficial Finance and HFC offices. That is no secret. How it is being handled is fast becoming public knowledge, as reports are coming in. Some HSBC tactics are alarming. Please evaluate this statement:
“I was a District Sales Manager (executive level position) that […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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