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Congressional delegation calls HSBC layoffs "difficult news"

Banking giant HSBC announced Tuesday that it will be laying off or relocating nearly 500 jobs by the end of next year.


The News Journal broke the news Tuesday that HSBC will closing its New Castle center by the end of 2018.  


It plans to move most of the 450 employees to its centers in Chicago or Buffalo. A few workers will be laid off and about 50 will work remotely from the Downtown Wilmington office.


People who don’t want to relocate will be offered a severance package.


Delaware’s Congressional delegation responded in a statement, calling this “difficult news.”


They say they’ll do everything possible to help find work for these “valuable skilled employees.”


HSBC said the move is part of a larger initiative to reduce real estate holdings in the New York area.


This is the second financial giant to move jobs out of New Castle County in the past two months.


Barclays announced plans in April to close its Ogletown call center and relocate all 300 employees.

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