HSBC cutting jobs - at least it won't affect the US
By sedel1027
@sedel1027 (17846)
Cupertino, California
September 26, 2008 8:10am CST
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?
1 person likes this
3 responses
@pyewacket (43903)
• United States
26 Sep 08
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?????
@sedel1027 (17846)
• Cupertino, California
27 Sep 08
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.
1 person likes this
@pyewacket (43903)
• United States
27 Sep 08
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
@stephcjh (38473)
• United States
26 Sep 08
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.
@sedel1027 (17846)
• Cupertino, California
26 Sep 08
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.
@suspenseful (40193)
• Canada
27 Sep 08
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.
