Wachovia closes in on 4,300 job cuts

[UpInArms]

http://www.miami.com/mld/charlotte/business/industries/9806121.htm

(free registration or try www.bugmenot.com)

Wachovia Corp. is making progress toward eliminating 4,300 jobs in its proposed SouthTrust Corp. merger but hasn't yet sent notices to employees, the merger integration co-leader told the Observer on Thursday.

"We are deep into the selection process," said David Carroll, who will become head of the company's capital management group Jan. 1. "There haven't been any notifications to people."

Some employees could learn their status later this year, he said. About 25 percent to 35 percent of the cuts will come through attrition, the company has said.

<snip>

Wachovia said in a filing last week that it will shutter 175 to 200 overlapping locations, more than the 150 it initially expected to close.

...more at link...

[llmart]

1. Look at that Bush job machine go!

Trouble is, the jobs are "going." Let's hope he'll be going too - back to the Crawford pig farm.

[LizW]

2. I have several friends affected by this

Some are losing their jobs outright, others are having to move to different states. :(

[Ilsa]

3. Wasn't Wachovia one of the businesses mentioned on NOW

that did those leases of sewers, etc in foreign countries to buy themselves favorable tax positions?

[Mika]

4. Yes

Them foreigners are outsourcing the ownership of their infrastructure too.

Gee.. ain't the 'global enronomy' just f-ing great.




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