Bank of New England to Cut 5,600...
From Times Staff and Wire Reports
Bank of New England to Cut 5,600 Jobs: Bank of New England said 5,000 job cuts, representing a third of its employees, will take place by year-end and are part of a strategic plan to stabilize the ailing bank. About 1,700 employees will be told over the next couple of days that they are no longer needed, and the remaining jobs will be cut through attrition, consolidations or through continued planned asset sales, the bank said.
