P.M. BRIEFING : Fleet-Norstar to Trim 500 Jobs
Fleet-Norstar Financial Group plans to cut about 500 jobs by the end of the year, an official of the banking company said today.
The layoffs will be scattered among Fleet’s 1,000 offices in 40 states but will primarily affect workers in New England and New York, said bank spokesman Robert W. Lougee Jr.
The cutbacks “range from the top to the bottom of the organization,” he said. Some workers have already been notified and the others will receive pink slips in the next few weeks, he said. The Providence-based bank-holding company is being hit by the recession plaguing the Northeast and blamed the slump for most of the layoffs.
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