HSBC terminations and cost cutting questioned

Submitted and posted: “I find it to be absolutely absurd to be working for such a company. I have seen this company over the past 5 years hire people into BSM positions who are inadequate and not trained correctly, rushing top performers into positions they have no business belonging in. I have also seen BSM’s getting removed or fired within the past 2 years who have been hard-working, honest, loyal individuals but got no respect from the people in the ivory tower.

The company is still in the process of getting rid of employees and hiring new blood. They feel that getting rid of seasoned employees who have been with the company for over 4 years (who have produced in the past), and replacing them with newer models, that they will get better results. That is crap. Keep in mind, I still work for the company, and seem to still have a job for the foreseeable future, but who knows with this wackiness. It will take people longer to learn the system and by the time they do, they may not want to do it anymore because they have not made any true commission and are discouraged. At least the seasoned employees have been here for a while and have tasted or bathed in success at one point, and that gives them reason to stay and try to stick it out.

There is a certain DSM in Massachusetts who does not give a damn about his employees and all he cares about is the bottom line. For employees working in this field at this difficult economic time with tougher guidelines and a declining market, this prick only depresses employees further. He is a retaliatory DSM, if he doesn’t like you or you stand up to him, you’re gone.

What a sh—y workplace environment for HFC employees.

Impending word of coming layoffs in the US, including East Coast, is being prefaced by employees being put on termination plans in order to cut costs instead of severance plans when the mass layoffs come in November or December. Pure B.S. is what this company has turned into. Great place to work when economy is going well, awful when it is not.”