More layoffs in the finance industry have been announced Friday. The latest round of cuts include Sovereign Bank (NYSE:SOV), Lloyds Banking Group plc (NYSE:LYG) and Commerzbank AG (NYSE:CBK).
- Sovereign Bank will immediately cut its workforce by 950
positions, according to WFMZ-TV.
- Lloyds Banking Group is trimming 305 jobs as it merges Clerical Medical sales forces with Scottish Widows life insurance businesses. Also, last week Lloyds said 985 full- and part-time posts from its motor finance business would be axed over the next two years, according to the Financial Times.
- Commerzbank's real
estate financing unit Eurohypo will axe around 300 jobs in
Germany and overseas, according to
Reuters.
- Cigna (NYSE:CI) may make more reductions than the 1,100 jobs
the company said it would cut in January. The size of the new cuts won't be disclosed until second-quarter
earnings, according to the Hartford Courant.
- First National Credit Card Center, a subsidiary of First National Bank
of Omaha, is closing two offices in Atlanta that
employ 215 people, according to The Atlanta Journal-Constitution.
For a roundup of all 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)
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