Saturday, January 24, 2009

Filled Under:

Compass Bank to cut 10 percent of staff

Compass Bank says it is cutting 1,200 workers, or about 10 percent of its staff, as part of an overall reorganization.

The company said Friday the job cuts will spread across all of its business units in six states. Compass said the workers who will lose their jobs will be notified within the next few days and will receive severance.

The cuts include management and non-managment positions. The bank is the U.S. unit of Spain-based Banco Bilbao Vizcaya Argentaria SA, which bought Compass for $9.6 billion in 2007.


Post a Comment

Blog Archive