Just months after handing more than 350 employees their walking papers, the banking giant cuts nearly 200 positions at the same location
Mortgage lender HSBC Finance Corp. is slashing nearly 200 mortgage-related jobs in Florida, the lender has announced.
HSBC has filed a layoff notice with the Florida Department of Economic Opportunity. According to a report by The Tampa Bay Times, the lender will permanently cut 197 jobs at its Brandon, Fla., office in September or October. Mortgage servicing support personnel, analysts and collection specialists will be among the affected employees.
This is the second round of layoffs in four months at HSBC’s Brandon location. In April, HSBC cut 357 employees in what spokesman Rob Sherman called a “strategic winding down” of HSBC Finance Corp. HSBC Bank USA, which is a separate division, has not been affected, the Times reported.
The latest round of cuts will leave HSBC’s Brandon office with about 70 employees, the Times estimated.
The company has been in dire financial straits in recent years, and is selling its loan portfolio, the Times reported. HSBC is also reportedly in talks to resolve a federal investigation into its sale of toxic mortgage bonds during the financial crisis, according to a HousingWire report. And last year the banking giant agreed to pay $601 million to resolve allegations that it had engaged in origination, servicing and foreclosure abuses, HousingWire reported.
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PHH slashes jobs
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HSBC has filed a layoff notice with the Florida Department of Economic Opportunity. According to a report by The Tampa Bay Times, the lender will permanently cut 197 jobs at its Brandon, Fla., office in September or October. Mortgage servicing support personnel, analysts and collection specialists will be among the affected employees.
This is the second round of layoffs in four months at HSBC’s Brandon location. In April, HSBC cut 357 employees in what spokesman Rob Sherman called a “strategic winding down” of HSBC Finance Corp. HSBC Bank USA, which is a separate division, has not been affected, the Times reported.
The latest round of cuts will leave HSBC’s Brandon office with about 70 employees, the Times estimated.
The company has been in dire financial straits in recent years, and is selling its loan portfolio, the Times reported. HSBC is also reportedly in talks to resolve a federal investigation into its sale of toxic mortgage bonds during the financial crisis, according to a HousingWire report. And last year the banking giant agreed to pay $601 million to resolve allegations that it had engaged in origination, servicing and foreclosure abuses, HousingWire reported.
Related stories:
PHH slashes jobs
Mortgage servicer slashes 120 jobs
