HSBC Ends Credit Card Business

HSBC said it aimed to slash up to $3.5 billion in costs and cut back in retail banking, to lift its return on equity. As part of this it is deciding whether to keep its U.S. card business, where its customer base is not linked to the rest of the group. HSBC’s credit card business may prove to be another liability instead.

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HSBC layoffs in Kentucky to include DSM

RE: HSBC employees and HFC Beneficial :: Apparently word through the grapevine (aka A VERY credible source) in Kentucky is there will be at least 1-2 offices in each district (Kentucky East and Kentucky West) closing by the end of November. This information is inadvertedly confirmed through the due dates of the Performance Management Reports (for employees) are being moved to be completed in early November, rather than their normal due dates of the end of December.

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