Seeing several senior HSBC people in NYC/USA being made redundant…was there a new rif this Spring?
Earnings report is expected to be on Tuesday. If they delay, we'll know something is wrong.
Not sure what made me think of this place six years after I left, but here I am. How are things going for everybody?
Why is there so little talk about it? Should I be worried or not?
What are the reasons for the closure of HSBC branches? Is it due to non-profitability? Do the employees get transfers or do they get displaced?
We Just Inherited your "Cybersecurity CTO" over at Wells. What's the story?
If HSBC doesn't want to support the Chrome browser, they should check the browser in use and tell the user they don't like Chrome- not just hang there in some stupid loop.
Given HSBC’s history of bad bets, the fact that they’re going to up the investments on the west coast speaks to an overvalued market. This is The kiss of death. Be prepared for dot.com bubble 2.0 to implode soon... — read more
Aside from the cuts that are happening I am hearing that there will be a large layoff action in September - we'll see what happens but I am not surprised.
Here is what I've got so far... The Guardian HSBC to cut 35,000 jobs worldwide as profits... — read more
HSBC USA introduced withdrawal limits. Beginning of a bank run?
Does anyone know who HSBC may be utilizing as an outplacement firm to help those affected by the layoffs transition to new opportunities?
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
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?
Where can I find more info?
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
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 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
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
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
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
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
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
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.
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
That's what I heard, I heard that next 6 months will be very difficult as we'll be letting people go
What's Project Oak?
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.?
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.
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
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
What is your opinion about the likelihood of layoffs at HSBC sometimes in 2020? What groups may be affected? Anyone has an idea?
Y’all ready? Lots of announcements. All bad Layoff announcements coming.
35000 layoffs is now not enough. And US retail is specifically called out as a market we will exit. I’m such a fool for joining this company last year... — read more
It's good to see them called out for their c-ap... Of course, many of their announced bonuses may prove theoretical, because HSBC still has 24,000 layoffs to implement, and if that call comes before the check, well, the check’s not going to... — read more
Not well…. https://wolfstreet.com/2021/07/04/hsbc-in-big-trouble-in-its-biggest-market-china/
Good luck with your efforts in communist china…..and good riddance to your presence in the US!