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6 HSBC Branches Closing In Bay Area

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By MICHAEL SASSO

msasso@tampatrib.com

Published: March 3, 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 Monday it will close about 800 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 employees of HSBC's back-office operations. Durham didn't immediately have a figure, 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, Brandon; 35271 U.S. 19 N., Palm Harbor; and 885 W. Bay Drive, Largo. HFC locations will close at 14356 N. Dale Mabry Highway, Tampa; 3515 49th St. N., St. Petersburg; and 9308 U.S. 19 N., Port Richey.

Reporter Michael Sasso can be reached at (813) 259-7865.

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