A lively discussion is taking place at HSBC Watch regarding HSBC, HFC, and Beneficial layoffs. HSBC employees are giving insight into what may happen. One reliable source provided verified information in that past that proved to be true, and recently said “2200 layoffs to be announced tonight/Friday (November 15-16).
Amongst them many DSMS, BSMs who’ll have to choose between demotions or severence.” Keep in mind that nothing is official until it comes from HSBC.
An AMT in Pennsylvania said “Its been confimed to me that half of the closings are in California and New Jersey. The other areas that are going to be hit are areas that in the past few years have seen very high appreciation and are now seeing very high depreciation.
Four divisions (out of the current 18) are being dissolved. The exact announcements and locations of each branch along with employee termination will be revealed NO later than the week of December 10th, just in time for Christmas.”
You can see the entire discussion here. No matter what one’s opinion might be, these are people with families and obligations like everyone else. Not knowing is very difficult, and pending layoffs near the holiday season are hard to accept. Our sincere thoughts and prayers go out to everyone.
Timothy Blake and Jen provide the most detailed personal finance blog ever, covering major bank complaints, debt settlement scams, and the mortgage crisis. Use Super-Search to find anything, download from the document library and research 6-in-1 personal finance