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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Guardian: 1100 layoffs at HSBC

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”

Posted By Timothy Blake

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off