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Non-Tech : MBK---------Bank of Tokyo Mitsubishi Ltd
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To: chirodoc who wrote (6)3/4/1998 5:59:00 PM
From: Lucretius  Read Replies (2) of 170
 
Wednesday March 4, 4:05 am Eastern Time
Bank of Tokyo-M'bishi to cut domestic branches
TOKYO, March 4 (Reuters) - The Bank of Tokyo-Mitsubishi Ltd [NYSE:MBK - news] said on Wednesday that it would cut the number of its domestic branches to 282 by the end of March, 2001, from 322 as of the end of this month.
It said in a statement that it would also review its overseas branch and subsidiary network in order to streamline its business abroad if this proved necessary.

The bank said it would cut the number of its top executives to about 40 by March 31, 2001, from 69 at present. Payment to top executives would be cut by up to 30 percent in the next fiscal year starting April 1, it said.

Total employee numbers would fall below 17,000 by the end of March, 2001, from 18,500 at the end of March, 1998, it said.

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