Wachovia plans to layoff 829 SouthTrust workers in Birmingham (AL)

http://www.miami.com/mld/miamiherald/business/10272403.htm?1c

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BIRMINGHAM, Ala. - Wachovia Corp., the new owner of SouthTrust Corp., plans to cut 829 jobs in Birmingham between January 2005 and March 2006. More layoffs are expected to follow.

The job losses represent about 20 percent of the 4,000 people SouthTrust employs in Birmingham. Charlotte-based Wachovia, which bought SouthTrust last month, told state officials about the job cuts Wednesday, as required by laws that demand disclosure of mass employment cuts.

Wachovia, the country's fourth-largest bank, has said it can eliminate $255 million in annual expenses by combining its operations with those of SouthTrust, once Alabama's biggest financial institution.

The SouthTrust job cuts are the first acquisition-related firings for a major bank based in Birmingham, whose economy has relied heavily on having four major regional banks with headquarters within the city limits.

Wachovia agreed in June to buy SouthTrust for $14.8 billion. Wachovia said at the time it planned to eliminate 4,300 jobs from the combined company. Wednesday's cuts mark the first time Wachovia has said how many workers in Birmingham will be affected.

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Happy Tanksgiving

eom

nt

Red state lay-offs give me no heartburn whatsoever. Perhaps they'll learn from the experience.

deserved to be laid off, they voted for bush.

BWAHAHAHAHAHA!

Bite my ass, pheules. You wanted it, you got it.

Do get in touch with those darker-skinned folks you have merely tolerated all these years. They have tons of neat recipes for the poverty-inflicted, like beans and rice, rice and beans, rice rice beans and rice, beans rice beans rice rice...

Don't you worry none though: You can always eat prayer books and hymnals.

It just captures the spirit and irony of the situation.

Rice and beans, beans and rice, rice rice and beans, beans beans and rice.

You voted for it.

You own it.

Good luck to y'all!!!!