HSBC branch closure will move hundreds of jobs out of Delaware

HSBC Bank USA yesterday announced the closure of its New Castle County center by 2018. The branch employed about 450 employees. Some staff will work remotely from the financial services company’s Wilmington office, but about 400 jobs will move out of Delaware.

The news leaked following an internal meeting around 10:00 a.m. yesterday.

The company has stated that the move is a cost-saving measure intended to consolidate its employees at fewer locations.

Many of the jobs will move to Buffalo and Chicago.

Delaware has been here before: In 2011, HSBC cut 500 jobs at the branch after it eliminated its collections and credit card customer care services.