Monday, December 11, 2017
Business

HSBC cuts nearly 200 jobs in Brandon office

BRANDON — Mortgage lender HSBC announced another round of significant layoffs for its Brandon office — 197 employees.

In a WARN layoff notice filed with the Florida Department of Economic Opportunity dated June 30, HSBC said the cuts will be permanent and take place in early September or October. After the downsizing, the office will remain open.

Among the affected positions are analysts, collection specialists and mortgage servicing support.

The layoffs are another phase of what Rob Sherman, spokesperson for HSBC, said in April was a "strategic wind down" for HSBC Finance Corp.

In April, HSBC announced the first wave of the wind down, which resulted in 357 employees being cut. HSBC Bank USA, a separate division, is not affected by the layoffs.

The company, which has been ailing financially in recent years, is selling its loan portfolio for HSBC Finance.

Previous coverage: HSBC laying off 357 employees in Brandon

Based on the estimated headcount of employees expected to remain after the first round of cuts in June, the latest cuts would leave the operation with about 70 remaining employees.

HSBC's revenue has dropped steadily since 2012; in the last quarter of 2016, the company posted a $3.4 billion pre-tax loss.

HSBC Holdings Plc., the banking giant's parent company, is searching for a CEO in anticipation of current CEO Stuart Gulliver retiring next year. A Bloomberg report said the company is considering Peter Hancock, formerly CEO of American International Group Inc.

Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo on Twitter.

Comments
Medical field accounts for 7 of 10 highest-paying jobs

Medical field accounts for 7 of 10 highest-paying jobs

The nation’s highest-paying jobs don’t quite track with the fastest-growing jobs in Florida. According to a new study released today by California-based CareerCast, the highest-paying jobs are largely in the medical field and require post-graduate de...
Updated: 12 hours ago
Outback Steakhouse co-founder Chris Sullivan steps off Bloomin’ Brands’ board

Outback Steakhouse co-founder Chris Sullivan steps off Bloomin’ Brands’ board

Chris Sullivan, co-founder of Outback Steakhouse, resigned from the board of the restaurant chain’s parent company last Wednesday, according to a Monday filing with the Securities and Exchange Commission. The document, filed by Tampa-based Bloomin’ B...
Updated: 10 hours ago
Tampa Hillsborough Expressway Authority plays beat the clock on GOP tax bill

Tampa Hillsborough Expressway Authority plays beat the clock on GOP tax bill

TAMPA — With the Republican tax bill poised to eliminate the opportunity, the Tampa Hillsborough Expressway Authority on Monday said it had refinanced a big chunk of its debt to save money in the future.The authority borrowed $152 million from the bo...
Published: 12/11/17
JW Marriott Clearwater Beach project still on target despite some bumps

JW Marriott Clearwater Beach project still on target despite some bumps

CLEARWATER BEACH — While Tampa is excited about its first JW Marriott hotel, plans are moving ahead for a $130 million JW Marriott property on Clearwater Beach, despite some hiccups. "We’ve done really well in our opinion," Uday Lele, developer of t...
Published: 12/11/17
HSBC says U.S. will dismiss criminal charges against it

HSBC says U.S. will dismiss criminal charges against it

HSBC said Monday that U.S. authorities were preparing to dismiss criminal charges against the bank, five years after it reached an agreement to avoid prosecution related to lapses in its money-laundering controls.In 2012, the bank, one of the world’s...
Published: 12/11/17
Major auto manufacturer offers longer hours, incentives to fix airbags

Major auto manufacturer offers longer hours, incentives to fix airbags

TAMPA — With nearly 200,000 people around Tampa Bay still driving around with defective airbags that could kill them, a major automaker is trying to dramatically cut that number down this week.Fiat Chrystler Automobiles U.S. has launched Airbag Recal...
Published: 12/11/17
This 6-year-old kid made $11 million in one year reviewing toys on You Tube

This 6-year-old kid made $11 million in one year reviewing toys on You Tube

When most people think back on the child celebrities of their time, they likely think of child movie actors, the well-trained stars of showbiz. For some, these were stars like Mary Kate and Ashley Olson, or Macaulay Carson Culkin from "Home Alone." F...
Published: 12/11/17
Ticket-fighting firm hires former Florida Bar president to sue the Bar

Ticket-fighting firm hires former Florida Bar president to sue the Bar

Times Staff WriterWell, this is awkward. A company that is suing the Florida Bar has hired a former Bar president to represent it. Ramon Abadin has joined the legal team of TIKD, a company that expedites the process of fighting traffic tickets in Pin...
Published: 12/11/17
A longer wait: Some now try nearly 3 years to get disability insurance

A longer wait: Some now try nearly 3 years to get disability insurance

By the time Teralyn Fleming could finally plead her case to get federal disability insurance, she had been waiting two years and three months. The wait was not a peaceful one — a blood clotting disorder pushed her out of the workforce in 2015 so she ...
Updated: 12 hours ago
Tampa: Hundreds protest Trump’s decision on Jerusalem

Tampa: Hundreds protest Trump’s decision on Jerusalem

TAMPA — Hundreds rallied near the University of South Florida on Friday night to protest President Donald Trump’s recent declaration that the United States will recognize the divided city of Jerusalem as the capital of Israel.The protest was organize...
Published: 12/08/17
Updated: 12/09/17