BUFFALO, N.Y. — HSBC Bank USA N.A. has eliminated approximately two dozen jobs at the bank’s administrative center in Depew.
Spokesperson Robert Sherman said three-quarters of the jobs were in U.S. retail banking and wealth management and one-quarter were in global operations. He said the bank continues to hire in Western New York and expects to maintain a local workforce of 3,000.
Confirmation of the job cuts came on the same day Bloomberg reported that HSBC’s parent company, HSBC Holdings PLC, is thinking about cutting 500 investment banking jobs over the next 12 months. The layoffs would be part of the bank’s larger job reduction initiative. You can read the full story on Buffalo