BANKING
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From Times Staff and Wire Reports
Wells Fargo Hands Out 424 Pink Slips: The bank issued the layoff notices last week as part of its retail branch reorganization plan. Wells Fargo announced a reorganization of retail branches in May, but the bank didn’t know the impact of the reorganization plan, spokeswoman Kathleen Shilkret said. The layoffs, out of the firm’s 37,000 employees, take effect Wednesday. Some employees may be offered positions within the company and others severance packages, depending on length of service.
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