Fleet Financial Group, the parent of Fleet Bank of Maine, plans to lay off 3,000

Source

Portland Press Herald

Date

4-16-1994

Pages

1A, 5A

Abstract

Fleet Financial Group, the parent of Fleet Bank of Maine, plans to lay off 3,000 of its 22,000 workers. About 275 of the bank's 1,400 Maine employees will be let go and all are expected to have been notified by Friday. Bank executives making $75,000 or more a year will get up to a year's pay, while full-time employees making less than that will get a maximum of 26 weeks' pay. Part-time employees will get 13 weeks severance pay. Details.

Subjects

Banks and banking, Dismissal of Employees, Fleet Financial Group

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