HSBC cuts 750 jobs in US sub-prime business

Banking giant HSBC today announced plans to close part of its US sub-prime mortgage business, axing 750 jobs.

HSBC cuts 750 jobs in US sub-prime business
Fri, 21 Sep, 2007 - 19:23

Banking giant HSBC today announced plans to close part of its US sub-prime mortgage business, axing 750 jobs.

The bank’s US subsidiary HSBC Finance is shutting its Decision One operation, which generated the mortgages to borrowers with poor credit history through brokers.

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