HSBC cutting jobs - at least it won't affect the US  |
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 HSBC announced that they will be cutting 1100 jobs world wide. While I was hoping it would be everyone that was outsourced out, they are doing most of the cuts in the UK.
Something I learned from reading the article is that HSBC in HONG KONG actually runs the HSBC in the US.
Do you think that is really because of any economic crisis?
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1.  stephcjh (22881) | 1 year ago |  I have a loan with HSBC and a couple of credit cards also. I do not carry a balance on the cards though. Alot of companies are going through hard times right now.
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| sedel1027 (12410) | 1 year ago | We have 1 HSBC card that we are trying to pay off. I will be so glad when that card is gone and we can close the account. HSBC has the worst customer service I have ever seen. | |
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2.  pyewacket (11660) | 1 year ago |  Crap where did you hear this?...I know that Washington Mutual was taken over by JP Morgan but haven't heard anything about HSBC....that's MY bank...does that mean it may fold too?????
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| sedel1027 (12410) | 1 year ago | I saw it on MSN Money and on Fox News this morning.
I don't think they are going to fold. 1100 jobs isn't much to cut considering that is world wide.
How are they as a bank. We have a credit card through them and they are horrible. | |
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| pyewacket (11660) | 1 year ago | My bank wasn't always HSBC...I started my account at my bank location over twenty years ago...first it was Metropolitan, then Crossland, then Republic and now of course HSBC. I've had a lot of aggravations with my bank but kind of refuse to find a new one....besides. The other bank near me is Washington Mutual..LOL | |
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| 3. jwfarrimond (2413) | 1 year ago |  HSBC was hit very badly by the US sub-prime mortgage problems as they had invested heavily into these. I can't rember just how much they lost, but I expect a google search would throw up the information if youre interested.
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4.  suspenseful (17149) | 1 year ago |  Don't bother me. I deal with ING direct. They are much better like that Dutch guy and I would rather deal with a finance company that is either American or European than one whose head office is in Communist China. It could be because of an economic crisis. At least, I make sure that my deposits are ensured. I have been asked to get a GIC but do not for that reason. I do not know if the GICS are ensured.
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