March 29, 1999 |
Wells Fargo & Co. could reduce its staff by as much as 4,600 people, or 5% of its 92,000 full-time workers, as the seventh-largest U.S. bank eliminates "redundant" jobs. The severance-related costs could total $280 million, said spokesman Larry Haeg. The costs would be covered in the $375-million charge Wells took in the fourth quarter for personnel-related expenses following the takeover of Wells by Norwest Corp. in November, Haeg said.
March 20, 1999 |
First Union Corp., the nation's sixth-largest bank, said Friday it plans to cut 5,850 jobs, or 7% of its work force, in a restructuring plan related to acquisitions made last year. The cuts will hit hardest in the Carolinas and Pennsylvania, but will also affect California. About 500 of the job cuts are planned in Sacramento. The Charlotte, N.C.
September 14, 1998 |
Almost 200 people lost their jobs Friday as the $1.8-billion merger of Golden State Bancorp, the parent of Glendale Federal Bank, and First Nationwide Holdings, the San Francisco-based parent of California Federal Bank, was completed, forming the country's second-largest savings and loan.
September 23, 1997 |
To the outsider, the million-square-foot headquarters of Great Western Financial Corp. here it seems like a pleasant place to work, with modern buildings, tranquil green spaces, a day-care center and bronze statues in the cafeteria. But for those on the inside, the scene is far from serene.
October 5, 1996 |
Banks. You can't live with 'em and you can't live without 'em. It's been an ugly six years for financial institutions all over the state, with bank mergers, thrift failures, the California recession and the ascendance of mutual funds all taking an enormous toll on branches, jobs and deposits.
October 20, 1995 |
Los Angeles Mayor Richard Riordan on Thursday blasted Wells Fargo & Co.'s hostile takeover bid for First Interstate Bancorp as potentially devastating to the region. He said he would support the hometown bank's efforts to resist. "There's something very, very bad about a situation where . . . someone offers a lot of money and it somehow destroys the whole context of what's been built up over years," Riordan said of the bid, valued at $10.