What is your opinion about the likelihood of layoffs at HSBC sometimes in 2020? What groups may be affected? Anyone has an idea?
Topics regarding layoffs at HSBC
Honestly, I'm yet to work at a place with this high level of incompetence and lack of professionalism. And don't get me started on our strategy. Do we even have one? Does anybody here on any management level know how to do their job? At this... — read more
That seems to be the main principle for treatment of employees at this company. Given that we’re all aware of the company’s constant pursuit for cheap labor, we shouldn't be surprised that the layoffs are happening, and that they’re not going to... — read more
Things have gone from bad to worse here really quickly. Now it's no longer just the low pay that's below industry standards and lousy managers who have no idea how to do their jobs that make our lives difficult. No, now we also have to worry... — read more
Really???? I get taking a contrarian stance but this is like sears doubling down on the catalogue to fight off e-commerce. What an incredible waste of money and resources.
Have heard rumours that there are further layoffs planned for this week or next week e.g. HR having internal meeting rooms booked out in London etc. Anyone heard anything further or have any concrete info.?
What's Project Oak?
Where can I find more info?
The cuts are coming mid-June and nobody at HSBC should be surprised. Bloomberg covered this with quite a bit detail, the impact will be mostly on GBM. Guyett is big on cost cutting and that's kind of what he does the best, so more to come here. Do... — read more
HSBC Layoffs 2019 What's your prediction as it relates to the possibility of HSBC Layoffs in 2019? — read more
This is not a bad company to work for, but neither is it one of the best. HSBC does provide adequate training in all aspects of the industry - just not for the position you are hired for. You are pretty much left on your own to be self taught or hope... — read more
HSBC can be a great beginning to kickstart your career but give it a year or two at the most - and move on! This company has proven time and again that career development and growth do not exist here. I have witnessed management give promotions to... — read more
More mortgage industry layoffs, things are accelerating and it's not looking good for 2018.... See below: A review of state employment data indicates that several real estate finance firms have recently made, or are planning to conduct, rounds of... — read more
I ran into this article listing 16 reasons HSBC is the best place to work, and while I can't find the date it was posted, it feels utterly outdated. Most of them used to be true once upon a time, but lately, majority are a thing of the past... — read more
There's nothing we can do to change this. There will always be people in other countries who are willing to work for much less, and HSBC will turn to them when they want to cut costs. No matter how bad they can be and how good we are - it's not... — read more
I don’t understand why HSBC keeps laying off people, when we have more work than we can handle as it is. There is absolutely no life/work balance, we are expected to work unreasonably long hours to make sure everything gets done. And as people get... — read more
The share prices of HSBC have never been this high, thanks to Hong Kong traders. Not sure how this will translate to future layoffs (it can cut both ways,) but it certainly bodes well for the company itself... — read more
I am really sorry for the folks in Brandon who are losing their jobs, but this is nothing new at HSBC. They only make the news when they do a clustered round of layoffs, but they have been letting go of people constantly in the past few years. They... — read more
This is on the mortgage side. More layoffs to come. Also, as things are moving on the net, more people do internet banking and less offices and branches are needed. This will result in many branches to be closed, it'll be a bloodbath in years to... — read more
WARN filed, 197 cut.
HSBC is a great place to spend a few years at but it's hard to work there - the deadlines can be really tough on the IT side and there are many egos and people who are really full of sh-- - they will work you a lot and you will be stressed out but... — read more
Yearly layoffs, and always handled very poorly. Super slow moving, red tape everywhere, wait, wait, wait, layoff... Finally, no any room for advancement in middle level unless you are already a senior manager. What's there not to love? — read more
Forced distribution (helpfully rebranded "guided percentages") and stack ranking is poisonous and makes it difficult to build talented teams and impossible to keep them together.
Dreadful low morale, period. Significant amount of "peacocking" by most middle/senior managers, period. No recognition or development time for technical professional development, period. Destroys WLB at most opportunities by ignoring when you're... — read more
HSBC workers are told to train their foreign replacements http://www.thestar.co.uk/news/axed-sheffield-hsbc-workers-told-to-train-their-foreign-replacements-1-7914218#ixzz48rBxVBXe America had its fair share of this (Disney, Edison), now, we welcome... — read more
From Fortune Magazine this week: The restructuring will eliminate one-fifth of jobs globally and around a sixth of jobs in Britain. HSBC, Europe’s largest bank, was to begin laying off 850 information technology workers in Britain on Monday, the... — read more
Savings target - 5 billion USD. To get there we'll have to have massive redundancies, up to 50,000 people will be laid off. What we know so far is that approximately 2000 people will be laid off in Commercial Banking, granted there is a ton of people... — read more
Most of the financal sector is under huge pressure, HSBC is not an exception. You can expect layoffs in NYC in 2016 but they may not be as big as we had them in the past
That's what I heard, I heard that next 6 months will be very difficult as we'll be letting people go
I know there is a lot of rumors about HSBC laying off thousands in 2014. Just look around the industry and you'll see pretty much EVERY SINGLE COMPETITOR doing the same thing - so, chill and do your work, there is nothing we can do about this.
We'll continue to cut, at least here in US. Look at what's happening with all other banks and you'll be able to predict what's going to happen with HSBC. I am not predicting doom, however HSBC moves sometimes slower than our peers and since everyone... — read more
Today, Gulliver announced that we'll be cutting again! Where does this stop. We went from 300K to 250K folks in less than a year. Circa 10 units have been nuked, 20 more will go this year. He's unable to make money so he's cutting costs - he should... — read more