Bad news for more financial industry professionals. The latest rumors and reports of layoffs are at UCBH Holdings Inc. & Co. (NYSE:WFC) and Southgate's Education First Credit Union.
- Layoffs are reportedly going down at UCBH Holdings, the holding company of United Commercial Bank in
San Francisco. The
Federal Deposit Insurance Corp. came knocking with a cease and desist order that is forcing the bank to restructure and reconsider its strategy, according to CoStar Group.
- Southgate's Education First Credit Union is conducting voluntary layoffs, according to The Detroit News.
- Wells Fargo & Co. (NYSE:WFC) cut 548 positions in Charlotte, N.C., since the bank's merger with Wachovia last year, according to Trading Markets. The layoffs are "largely over."
Even though several companies are laying off employees, several are also hiring. Check our job opening
pick of the day from The Deal's Career Channel:
Macquarie Capital - Media and Entertainment Vice President
in New YorkFor a roundup of all the announced layoffs to date, check out
The Deal's Pink slips on Wall Street Dealwatch. Also, feel free to leave us any layoff or hiring rumors you are hearing.
- Maria Woehr
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