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  • Wachovia Plans to Layoff 829 SouthTrust Workers in Birmingham

    11/26/2004 10:39:02 AM PST · by Willie Green · 6 replies · 490+ views
    WTVD-TV ^ | 11/26/04 | The Associated Press
    BIRMINGHAM, AL — Wachovia Corp., the new owner of SouthTrust Corp., plans to cut 829 jobs in Birmingham between January 2005 and March 2006. More layoffs are expected to follow. The job losses represent about 20 percent of the 4,000 people SouthTrust employs in Birmingham. Charlotte-based Wachovia, which bought SouthTrust last month, told state officials about the job cuts Wednesday, as required by laws that demand disclosure of mass employment cuts. Wachovia, the country's fourth-largest bank, has said it can eliminate $255 million in annual expenses by combining its operations with those of SouthTrust, once Alabama's biggest financial institution. The...