LayoffBlog.com

March 26, 2009

HSBC to lay off 2,900

Filed under: banking,HSBC,outsourcing,UK — 7macaw @ 6:47 am
Tags: , , ,

HSBC yesterday said 1,200 UK jobs were under threat following a review of the banking business, which will see the closure of its Newport call centre.

But union leaders insisted 2,900 jobs will be axed at HSBC, including 500 being off-shored to India. The Unite union said a number of local communities would be “ravaged” as sites were closed and work moved abroad.

HSBC insisted that while 2,900 positions would be axed, some staff would be given different work and only 1,200 would lose their jobs.

Source: Wales Online, The Mirror

March 2, 2009

HSBC to cut more than 6,000 U.S. jobs

European bank HSBC is shuttering hundreds of branches in the U.S. that specialize in mortgage and consumer lending, and axing thousands of jobs, as it pulls back from its foray into the American housing market.

HSBC said on Monday that it will cut 6,100 jobs in the U.S. and close its HFC and Beneficial bank branches.

Source: CNNMoney

December 2, 2008

HSBC, Credit Suisse to cut 1,150 jobs

Press Trust of India / UK, London: “Amid the ongoing economic crisis, the banking sector continues to be hit by mass layoffs with financial service major Credit Suisse and HSBC announcing additional 1,150 job cuts, a media report says.

According to the Financial Times, Credit Suisse will be trimming its workforce by 10 per cent leading to job loss for 650 employees, while HSBC said it was slashing 500 jobs.
Credit Suisse has been impacted by the loan writedowns, which has led to two quarters of losses for Switzerland’s second-largest bank this year, the report said.
A majority of the jobs at Credit Suisse would be cut in the investment banking and the support functions segment.”

“Earlier, HSBC said that it would cut 500 jobs in Asia as part of a shake-up of its global banking and markets division.

Besides, Citigroup had also announced it was shedding 52,000 staff worldwide, while Royal Bank of Scotland plans to cut about 3,000 jobs in its investment banking division.”

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