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From: peppe51	1/23/2009 8:56:17 AM
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570....570 jobs cuts coming at Comerica in quarter BY KATHERINE YUNG • FREE PRESS BUSINESS WRITER • January 23, 2009 Comerica Inc. said Thursday it plans to eliminate 570 jobs or 5% of its workforce in the first quarter and freeze the salaries of its top 20% of employees this year. Though the job cuts are spread across the regional bank's operations, many of them are expected to occur in Michigan, which has about 7,000 of Comerica's slightly more than 10,000 workers. Comerica is the state's second-largest bank in terms of deposits. "Economic conditions deteriorated rapidly in the fourth quarter," Ralph Babb Jr., Comerica's chairman and CEO, told analysts Thursday. The layoffs have already begun in Michigan, with 110 job cuts occurring earlier this month. It's unclear how many more employees in the state will be affected. freep.com

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