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Strategies & Market Trends : Dawg's Place -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (1152)	7/14/1999 1:20:00 AM
From: Junkyardawg	Respond to of 2751

****ASO News****** Tuesday July 13, 2:14 pm Eastern Time AmSouth sees cutting 1,400 jobs in merger BIRMINGHAM, Ala., July 13 (Reuters) - Southeast regional bank AmSouth Bancorp. said Tuesday it could cut about 1,400 jobs, or about 10 percent of the combined workforce after it acquires First American Corp. (NYSE:FAM - news). AmSouth announced plans to buy First American for $6.3 billion in June, to create a southeastern financial services company with $40 billion in assets. It said at the time it would take a $296 million charge related to the deal. The bank, which posted record second quarter earnings of $74.2 million Tuesday, also said 24 branch offices in overlapping markets would be consolidated while about 1,400 ''non-revenue-producing'' jobs were identified to be cut. About 160 of these jobs would be eliminated immediately, it said.