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HSBC Closing 6 HFC, Beneficial Offices In Bay Area

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TBO.com

Published: March 2, 2009

TAMPA - HSBC Finance Corp., a unit of banking giant HSBC, will shut six Bay area lending offices as it pulls out of the U.S. consumer lending business.

The company announced today that it will close about 800 U.S. branches of its HFC and Beneficial units, which will cause layoffs of about 5,400 people, according to HSBC spokeswoman Kate Durham.

It wasn't immediately clear how many employees will be affected locally, but it's likely that each of the six Bay area locations has fewer than 10 employees, Durham said.

The closures don't affect the much larger number of people who work in HSBC's back-office operations. Durham didn't immediately know how many people work there, but as of 2005, HSBC operated service centers in Brandon and Tampa with roughly 1,400 employees.

Local Beneficial locations will close at 1957 W. Lumsden Road in Brandon; 35271 U.S. 19 N., in Palm Harbor; and 885 W. Bay Dr. in Largo. HFC locations will close at14356 N. Dale Mabry Highway in Tampa; 3515 49th St. N. in St. Petersburg; and 9308 U.S. 19 N., in Port Richey.

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