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Article: HOW WILL SEAFIRST-SECURITY PACIFIC MERGER IMPACT WORKERS? UFCW TO TESTIFY BEFORE RARE FEDERAL RESERVE BOARD HEARING
- Article from:
- PR Newswire
- Article date:
- January 15, 1992
CopyrightCOPYRIGHT 1992 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOW WILL SEAFIRST-SECURITY PACIFIC MERGER IMPACT WORKERS?
UFCW TO TESTIFY BEFORE RARE FEDERAL RESERVE BOARD HEARING
As BankAmerica Corp. and Security Pacific seek to effectuate the largest bank merger in U.S. history, an estimated 20,000 workers in Washington and nine other western states -- over one-fifth of the two banks' 92,000 employees -- risk losing their jobs as several hundred branches become targets for closure.
In response to pressure from United Food and Commercial Workers (UFCW) Local 1182, which represents 4,600 employees at BankAmerica subsidiary Seattle First National Bank (Seafirst), and other groups, the Federal Reserve Board has agreed to hold ...