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Article: BANCO SANTANDER CHILE ANNOUNCES STAFF REDUCTIONS
- Article from:
- PR Newswire
- Article date:
- June 26, 1996
CopyrightCOPYRIGHT 1996 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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Action Is Part of Expected $30 Million In Cost Reductions Associated
With Osorno Acquisition
SANTIAGO, Chile, June 26 /PRNewswire/ -- Banco Santander Chile (BSC) today announced it has reduced the combined staff of BSC and Banco Osorno by 800 positions as part of the ongoing integration of BSC's operations with those of Osorno. Banco Santander Chile announced on April 11, 1996 that it would acquire Banco Osorno, and shareholders of both banks approved the transaction earlier this month. The reductions represent a significant portion of the previously announced savings of $30 million expected to be realized ...