The Deal
Sunday, November 22, 
8:08 pm

Finance Layoffs: Stanford Financial, Pacific Capital and more

  Share     E-Mail    Discussion (3)     Print Story
The Labor Department announced that initial requests for unemployment insurance are at 646,000. Meanwhile, national unemployment claims have reached  5.47 million, according to CNBC. Unfortunately, many of those lost jobs were in the finance industry.

Here are the latest finance layoff rumors and reports:

  • Pacific Capital Bancorp said it will cut its workforce by 300 employees this year. Eighty of the jobs will be eliminated this month, with the remainder gone by July 1.
  • Stanford Financial Group laid off 1,022 employees in Texas.
  • United Community Bank in Florida announced it will conduct layoffs. No word on how many employees will lose jobs. 
  • First State, the bank holding company of First Community Bank, has reached a definitive agreement to sell its Colorado branches to Great Western Bank, a South Dakota-based subsidiary of National Australia Bank. No word on if staff will be reduced.

    It's rough out there but there are jobs out there. HSBC Holdings plc (NYSE:HBC) plans to hire 200 people in Taiwan this year to expand its operations on the island. Plenty of boutique firms are hiring in the U.S. For the latest job postings, check out TheDeal.com's Career Center. For a roundup of all of the announced layoffs to date, check out The Deal's Pink slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff tips or rumors you are hearing. - Maria Woehr

    (Follow me on twitter or send me tips: @newsgirlmw)

Also see:
Finance Layoffs: UBS to cut 5,000
Finance Layoffs: BofA, Regions, Fidelity and more
Finance Layoffs: Stanford Financial and more

Finance Layoffs: Stanford Financial, BofA and more
Finance Layoffs: Wells Fargo, HSBC and more Finance Layoffs: Berkshire Hathaway and more
Finance Layoffs: J.P. Morgan, Bank of America and more
Finance Layoffs: Goldman, Merrill and Capital One
Finance Layoffs: RBS (LON:RBS), BofA (NYSE:BAC) and more
Finance Layoffs: Citi, BofA, Huntington and more

Finance Layoffs: Barclays, BofA and more
Layoff Watch: Morgan Stanley, DLA Piper and more
Finance Layoffs: UBS, Bank of America and more
Finance Layoffs: State Street, BofA and more
Finance Layoffs: Goldman, Morgan Stanley, BofA, more
Finance Layoffs: Northern Trust, First National Bank and others
Finance Layoffs: BofA, Comerica, State Street and more
Finance Layoffs: Cerberus, BofA, J.P. Morgan and more

Finance Layoffs: Wells Fargo, BOA, Barclays and more
Finance Layoffs: Bank of America, Fidelity, Carlyle and more
Pink slips on Wall Street
Finance Layoffs: Barclays, Sun Capital, Wells Fargo and more
Finance Layoffs: Barclays, Citadel, Bank of America and more
Finance Layoffs: Schwab, BOA, Northern Trust and more
Finance Layoffs: BlackRock, BOA, Blackstone and more
Finance Layoffs: UBS, Citadel, GE Antares and more
Bank Layoffs: Credit Suisse, State Street, Carlyle and more

Merrill Grinch: Layoffs and other bad tidings before Christmas

Bank layoffs: J.P. Morgan, Goldman Sachs, Standard Chartered and more
Layoff roundup: WaMu, Barclays and BoNY
The latest layoff roundup: Citigroup, J.P. Morgan, Nomura, Fidelity, HSBC and more
More bank layoffs announced
Another round of bank layoffs

Continue reading below

Also on Dealscape





Comments

From: Louise Lewis, author,

Job loss...Been there. Done that. Yep, still 'there'.

Losing a job is one of those defining moments in life. We can choose to lose our way (our mind), or we can rise to the challenge and follow what our Spirit tells us to do.

But we mus remember that we are more than a statistic on the news.

I'll share with you what I was told the day I got "set free" (laid off) from my job: "This is a new chapter in your life. WRITE ONE HELL OF A CHAPTER!" And I did just that! Will you?

Need a break from the doom and gloom? Ready to begin your journey today? Then let me send you a FREE (no strings) book download at: http://www.noexpertsneeded dot com

It's simply my way of 'giving back'!

take care,
Louise Lewis, author
No Experts Needed: The Meaning of Life According to You!


From: Finance Entry,

What’s The Property Financing?

Property investment is a term that most people are familiar with. People usually invest money when they have a surplus or when they are planning for the future. The very careful ones opt for government securities and the adventurous ones go for stock markets. Where does the property investment stand on this line between the secure and the risky?
If anybody is thinking long term then property has no parallel as it has been seen that in a larger time frame land never betrays. Property can be used to get rental income or can be used to secure a loan for any business venture alongside the property. Property investment also requires detailed research before the deal is drawn. Bear in mind that if the property is upon a disputed land then there are risks of recurring loss. On the other hand, if the property is situated at a location where many facilities are accessible then the prices will appreciate significantly over time. Any kind of Property Investment has been and shall always be one of the best kinds of solid investment opportunities.


From: Sarah,

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Sarah

http://www.lyricsdigs.com


Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.