HSBC ( HBC) said on Jan. 20 that it will cut 500 positions as it ends its credit card customer service and collections work at a center in New Castle, Del.

The bank said it will continue its insurance underwriting and insurance customer services operations at the Delaware center, leaving 700 people still employed.

The layoffs will be complete by midyear, with affected workers receiving notice this week.

If you liked this article you might like

Lowe's Predictable Plateaus

These Stocks Pay You to Own Them

Cramer: Dominoes Are in Play Today

Cramer: Irma and Harvey Busted the Algos

Analysts Wrong on iPhone; Retail Not Going Away: Best of Cramer