Sunday, December 20,

10:52 pm

  • Log in to The Deal Pipeline
  • Subscribe to The Deal magazine
  • Products & services

Finance Layoffs: Sovereign Bancorp and more

E-Mail

Published August 18, 2009 at 8:43 AM

« Previous Story Home Next Story »

Bad news for bankers Tuesday morning. The latest banks to announce layoffs are Sovereign Bancorp and First National Bank of Georgia.

Sovereign Bancorp has laid off 517 employees in its Pennsylvania offices this year as the bank integrates with Banco Santander SA., according to Philly.com.

First National Bank of Georgia is closing three offices and laying off 15 to 20 employees in the next few weeks as it consolidates branches. Layoffs are expected to be completed by Sept. 4, according to Times-Georgian.com.

Even though several financial institutions are laying off employees, several are also hiring. Check our job opening pick of the day from The Deal's Career Channel:

VP, Technology Investment Banking in New York

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 or hiring rumors you are hearing. - Maria Woehr

Follow me on Twitter @newsgirlmw or join our Facebook Group.

Also see:
Finance Layoffs: Colonial BancGroup and more

Inside The Deal: Jones Day's Chip MacDonald says repaying TARP is a sign of strength for any bank.

More video...

	Industry Insight An end to marital bliss By Joanna Higton, Maclay Murray
Just as couples have prenuptial agreements, well-prepared U.K. joint ventures have shareholder agreements to set the parameters and provide clarity when the parties decide to split.

	Industry Insight Converting carnage into value By J. William Morrow, Waller Lansden
A basic understanding of distressed acquisitions, including the benefits and pitfalls of Section 363 transactions, grants entry to the majority of this market.

	Industry Insight MOFCOM extends its reach By Akiko Mikumo and Jasson Han, Weil Gotshal
The approval of the Panasonic-Sanyo tie-up marks the first time the Chinese competition authorities have compelled disposals outside of the country in a transaction involving two non-Chinese businesses.

An end to marital bliss