HSBC Closing Credit Card Servicing Call Center, 240 Jobs Lost
Jacksonville is losing 240 credit card call center jobs, including collection positions, as HSBC streamlines its card operations.
Consumer credit giant HSBC is closing a credit card call center in Jacksonville, Fla. and laying off some 240 workers, according to local paper The Florida Times-Union.
HSBC Finance Corp. Card & Retail Services is going to distribute the work done at the Jacksonville location to other offices around the country, according to a company spokesperson. The call center provided collection services for HSBC’s card products in addition to customer service and other work.
According to its Web site, HSBC's Card & Retail Services division issues MasterCard and Visa-branded cards, the GM Card and AFL-CIO Union Plus cards. HSBC also offers cards to subprime and “underbanked” consumers through various affiliate programs.
Cindy Savio, a spokesperson for the company, told the Times-Union that workers had already been notified. The closure is part of a strategic review of the HSBC’s card unit that is focused on staffing levels in the division.
HSBC Holdings PLC is based in London and had revenues of $87.6 billion in 2007. The company employs more than 300,000 people around the world. HSBC is considered to be the largest consumer bank in the world based on a Forbes composite score.
HSBC became heavily invested in the U.S. consumer credit market with the 2003 acquisition of Household International – a subprime mortgage issuer – and the 2005 acquisition of credit card issuing giant Metris (“HSBC Finance Corporation to Acquire Card Issuer Metris for $1.6 billion,” Aug. 4, 2005).
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Comments
Comment from Jennifer on October 4, 2008 at 2:56PM EST
I hope their whole company sinks into the red and shuts its deceptive doors!!
Comment from Gail on January 27, 2009 at 8:22PM EST
Several people who have lost jobs including myself have tried to work with this company. They do not want to work with consumers, just take any assets or your home. Like others who have commented before me, I hope they have to shut their doors and are out of a job as well. Greedy pedator companies like these force people into bankruptcy.
Comment from Anonymous on March 20, 2009 at 2:35PM EST
What is the interest rates on any one particular HSBC credit card?
Comment from Anonymous on October 27, 2009 at 5:56PM EST
I work for HSBC and not all HSBC employees are hard to work with. Most times, the specialist have no choice but to do what they are told to do. We do not like it and many times we are caught in the bathroom or hallway crying because our hands are tied. My mortgage company(not HSBC) is horrible and if it was not for President Obama's home plan, I would have lost my home.But to wish that someone lose their job is horrible.