BANKING & FINANCE - Oct. 27, 1993

Sanwa Bank of California to Lay Off 130: The layoffs of full-time employees is a result of an efficiency study the bank began earlier this year, it said. The majority of the cuts, which began about a month ago, will be completed early next year. The Los Angeles-based bank said furloughs will be widespread, affecting all of its 105 branches across the state as well as its corporate staff. The bank, Japanese-owned, said the changes will eliminate excess positions without hurting customer service.