HSBC said acquiring Household Finance was "a mistake" - Anonymous employee HSBC Employee Review

2.0
Oct 15, 2009
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

HSBC is a global finance corporation with good profits in India and China. In the U.S., they are losing money due to their sub-prime mortgage exposure. Thus they are attempting to save costs by laying-off employees, which as a share-holder is the proper strategy.

Cons

The headquarters are moving from London to Hong Kong, to take advantage of the China growth. However, if you are working in the U.S., you are now an "ugly step-child" that headquarters is looking to save costs. The former CEO was fired and a new CEO was sent from the U.K. to make cuts. Thus employees are viewed as a cost and careers are an undue expense. The survivors are wondering when the next cuts will be made.

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Jun 2, 2026
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Pros

Good environment and nice place to work and learn

Cons

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2.0
Jun 15, 2026
Recommend
CEO approval
Business Outlook

Pros

Good, smart colleagues in other offices.

Cons

At times, decisions appeared to prioritize individual objectives over team needs, which affected collaboration and morale. Greater consideration of team perspectives and shared goals would help build trust and engagement. I observed instances where expectations communicated to the team were not consistently reflected in leadership actions. Greater consistency between stated values and day-to-day decisions would strengthen credibility and confidence within the team.

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