Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, March 3, 1993 TAG: 9303030075
SECTION: VIRGINIA PAGE: A1 EDITION: METRO
SOURCE: DANIEL HOWES STAFF WRITER
DATELINE: LENGTH: Medium
400 NEW JOBS EXPECTED
First Union Corp., fresh from its takeover of Dominion Bankshares Corp., appears poised to bring at least 400 new jobs to the Roanoke Valley.An announcement could come as early as today, several sources confirmed Tuesday, adding that some last-minute details still must be worked out.
The jobs - described as credit-card processing and other backshop operations - apparently will be split between locations in Roanoke and Roanoke County, the sources said.
"I think you're safe [saying] between" 400 and 500 jobs will be created, one county source said. "We could easily jump over 500 in a hurry." Roanoke City Council also was told Monday night that a First Union announcement likely would come this week.
It's not clear how many of the new jobs would be transfers from other cities where First Union operates. Nor could it be learned how many jobs actually would be available to 850 valley Dominion workers being displaced by the acquisition. In December the company said nearly 1,300 jobs would be eliminated systemwide.
According to recent company estimates, First Union plans to cut 180 workers April 1; 105 would be trimmed in May, June and July. In August and September, another 220 workers are scheduled to be eliminated, followed by 288 in October, November and December.
A First Union spokesman in Charlotte, N.C., the company's corporate headquarters, would not "confirm numbers or confirm timing" of any news detailing new jobs for the Roanoke Valley.
"We were hoping that an announcement would be made soon, but our objective is to inform our employees first," R. Jeep Bryant said.
First Union officially completed its acquisition of Dominion on Monday - just three days after saying it also planned to acquire McLean-based First American Metro Corp. in hopes of cementing its position in the lucrative Washington market.
Local and state officials, including Gov. Douglas Wilder, have urged First Union to locate certain operations in Virginia in hopes of reducing the expected job losses.
The addition of 400 First Union jobs almost certainly would reduce those numbers, especially for those who haven't found work elsewhere. Bryant, the First Union spokesman, said any new Roanoke jobs might include management positions.
"If you're talking about relocation of a function, you would have managers, employees - the whole nine yards," he said.