According to the Guardian in an article titled “Signs of recession: the impact on Britain’s real economy”, HSBC is reducing its workforce by 1,100 in spite of weathering the credit crisis better than some rivals such as UBS where job cuts are also running at 1,000. The article talks about unemployment, consumer credit, reposessions (foreclosures), mortgages, and pensions in the UK.
here at HSBC Watch we have been asked about layoffs and job losses at HSBC in the United States. While HSBC employees report that layoffs are happenng, the bank remains silent. See our article “Question about more layoffs at Beneficial and HFC”