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400 Lose Jobs as HSBC Closes Offices in New Castle County

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Delaware will be losing around 400 jobs with the announcement that the financial services company HSBC Bank USA is closing its offices in New Castle County.

The Wilmington News Journal reports that the company says moving the jobs out of the First State is part of a two year plan to cut real estate expenses.

The offices in the Churchman’s Corporate Center employs 450 workers 50 of whom will still be able to work remotely from the company’s office in downtown Wilmington.

The paper reports the announcement came as a shock to the employees as well as the landlord.

It reports that this is the second financial company to announce it is moving its offices out of the New Castle County in the last two months.

Governor John Carney called the announcement very difficult for the employees and their families and that the state will do its best to connect the employees with resources to find work.

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.