WK in Illinois said “I have followed HSBC/Household Watch for some time and I spent 10 years there as an employee before I was “retired” in 2006. It is interesting to read accounts about how HSBC deemed the purchase of Household International a bad decision. It’s nice of them to finally admit it.
HONG KONG/LONDON – Banking group HSBC Holdings Plc may cut more than 10,000 jobs as part of its plan to slash costs by up to $3.5 billion a year, Sky News reported Thursday.
Here is some news that will certainly effect HSBC in the United States. In a bid to reduce outsourcing of U.S. jobs, a Democratic senator said on Sunday he will push legislation to make companies inform customers when their calls were being transferred outside the United States and charge companies for those transferred calls.
In an effort to improve efficiency in servicing operations HSBC Finance Corp. has announced plans to close its Net Park facility in Tampa in mid-2010.
UBS is not keen on HSBC’s Household International business in the United States. Now called HSBC Finance, USB predicts more losses. HSBC Finance is laying off workers and firing others. UBS reduced its target by eight percent and kept a neutral rating, partly on concerns about HSBC’s American business Household. It said: