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To: IceShark who wrote (23251)	3/4/1999 1:12:00 PM
From: wlheatmoon	Respond to of 86076

ok. I'm all over the hot news. lol maybe this is a fresh one. banks doing real well.... Thursday March 4, 12:53 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) PNC Bank asks managers to pare expenses NEW YORK, March 4 (Reuters) - PNC Bank Corp. said on Thursday it has asked managers of each of its business units to cut costs, with the goal of reducing the regional bank's total expenses by about 5 percent or $200 million a year. The cost-cutting plans, reported in the American Banker newspaper, have come in response to increased competition in the financial services industry and could involve layoffs, although no numbers have been set, a PNC spokesman said. They would follow expense reduction moves and job cuts at other U.S. banks like Citigroup Inc. (NYSE:C - news), First Union Corp. (NYSE:FTU - news) and Republic New York Corp. (NYSE:RNB - news), some of whom have been grappling with slower revenue growth. ''The managers, or CEOs, of our businesses have been asked to look very closely at their expense management and at their revenue generation,'' PNC spokesman Jonathan Williams said. ''They've been asked to measure themselves against the most efficient of their competitors to see if they can become the best in class. They may have some redundancies and they may have to streamline some processes.''