13 February 2016

HSBC cuts 500 jobs at US card business

21 January 2011  |  9604 views  |  0 HSBC sign

HSBC is axing around 500 US jobs in credit card customer service and collections, according to press reports.

The UK-based bank will discontinue the work at its Delaware centre by the middle of this year. Around 700 staff will remain at the site working on insurance underwriting and customer service.

A bank spokesman told Reuters that the decision was part of efforts to "balance customer service and business support needs with staffing levels".

American Express has also just outlined plans to cut its workforce by around 550 positions as part of a move to "consolidate locations" within its global servicing network.

HSBC cuts 500 U.S. jobs, pares credit card work - Reuters

KeywordsPEOPLE

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

19 January, 2011
29 November, 2010
11 March, 2010
12 January, 2010
18 November, 2009
03 November, 2009
25 March, 2009
01 December, 2008
17 October, 2008

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
UK sets out open banking API frameworkUK sets out open banking API framework
15351 views comments | 100 tweets | 89 linkedin
Deutsche Bank calls for co-operation with fintech firms on B2B servicesDeutsche Bank calls for co-operation with...
8378 views comments | 28 tweets | 30 linkedin
How to accelerate your fintech startupHow to accelerate your fintech startup
7982 views comments | 34 tweets | 9 linkedin
Is Paym a failure?Is Paym a failure?
6759 views 16 comments | 23 tweets | 16 linkedin
Visa issues API to offer consumer control over card transactionsVisa issues API to offer consumer control...
6238 views comments | 17 tweets | 28 linkedin

Featured job

Competitive Package
New York City, NY. USA

Find your next job