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StumbleBank merger to eliminate 4,600 jobs
Monday, March 29, 1999 | 12:45 p.m.
The job cuts will come over this year and next as the bank gets rid of overlapping operations with Norwest.
Prior to release of the annual report, Wells had been reluctant to disclose how its plans to slash $650 million in annual expenses will translate into lost jobs.
The combined bank had 92,000 full-time jobs at the end of last year. Spokesman Larry Haeg said the estimate of 4,600 jobs lost is only a rough estimate and believes the actual number could be much lower.
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