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Article: FLEET TO SHED 5,500 JOBS.(MAIN)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- March 11, 1994
CopyrightCOPYRIGHT 1994 Albany Times Union. 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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Byline: ALAN D. ABBEY - Business writer
Fleet Financial Group Inc. announced plans Thursday to slash its work force by 5,500, more than 20 percent of its Northeast banking operation, in an effort to boost profits by $350 million annually and survive in a rapidly changing banking world.
Eugene McQuade, Fleet chief financial officer, told the Times Union in a telephone interview from Fleet headquarters in Providence, R.I., that the Capital Region, which is home to about 800 Fleet Bank of New York workers, is likely to feel the same pinch as elsewhere in the company. That could mean a net loss of about 150 jobs locally.
Fleet, which brought ...