Business Services Industry
Bank One Plans Layoffs, Closings as Earnings Fall.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Davis, Riccardo A.
Jan. 12--Bank One said Tuesday that its earnings could fall as much as 19percent in 2000 as it tries to shore up its struggling credit-card business with a restructuring that includes closing some bank branches and laying off employees.
Company executives didn't offer details to analysts during an investor conference in New York City about how jobs would be eliminated and in which markets branches will be closed.
The analysts were there to get details of Bank One's plans to lift its stock price by shoring up its ailing credit-card business.
Among the bank officials describing those plans was Verne Istock, acting president and chief executive officer.
Bank One has hired executive search firm Russell Reynolds Associates to find a...
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