Employment News
Sovereign Bank to Cut 950 Jobs
By Erik Even | Dated: 05-01-2009
Philadelphia’s Sovereign Bancorp will cut 950 jobs in eight states. The bank was purchased by Spain’s Banco Santander SA in January.The firm employs 10,700 workers. Over 3,000 Pennsylvania employees will not be affected — they are protected by a court ruling in a shareholder lawsuit opposing the Santander deal, and cannot be laid off until 2010.
Over 200 employees in Pennsylvania have been offered voluntary separation packages.
The firm has no plans to close bank locations.
Sovereign Bank is the 19th-largest banking institution in the United States. The bank has more than $90 billion in assets, operates 750 retail banking offices, and has over 2,300 ATMs (including 1,100 in CVS pharmacies).
Career Connect (From our other career blogs):
- Employment News (Sponsored by EmploymentSpectator)
- Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
- Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
- Layoff News (Sponsored by LayOffWatch)
Testimonial of the Week
By using Employment Crossing, I was able to find a job that I was qualified for and a place that I wanted to work at.
- Madison Currin Greenville, NC
Sign Up now
Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.
- We have more jobs than any other job board.
- We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
- We collect jobs from more than 4,429,376 websites and post them on our site.
- We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.
