
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 5, 1990                   TAG: 9004040990
SECTION: BUSINESS                    PAGE: A11   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

NEW ENGLAND BANK TO CUT 5,600 JOBS

Bank of New England Corp. announced a drastic plan Wednesday to cut expenses and return to profitability by eliminating about a third of its payroll,

The banking company, which had already begun to reduce its size by selling loans, said it planned to cut 5,600 jobs. The bank lost more than $1.1 billion in 1989. - The New York Times

by CNB