TORONTO (Bloomberg) — HSBC Financial Corporation, a unit of HSBC Holdings that offers mortgages and consumer loans, will close 30 of its 140 Canadian branches, affecting about 300 workers.

HSBC Financial will shut the offices by October 31 as the company "refines its position in the Canadian marketplace and tightens some credit criteria," spokeswoman Sharon Wilks said.

Some workers may be offered jobs at other HSBC businesses, she said. London-based HSBC Holdings, Europe's biggest bank, also owns the consumer bank HSBC Bank Canada, which has about 130 branches across the country and plans to add more, Wilks said.