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Boston Globe says Citizens to lay off 900 employees

5:55 PM Fri, Dec 19, 2008 |
Maria Armental    Email

PROVIDENCE, RI -- Citizens Financial Group, parent of Citizens Bank and a unit of Royal Bank of Scotland, plans to lay off about 900 of its 24,500 employees early next year, the Boston Globe reports.

Citizens employs 5,500 people in Rhode Island and 3,600 in Massachusetts, where it is the second-largest bank by deposits.

This morning, Sovereign Bank announced it will eliminate 1,000 jobs throughout the company, including 30 jobs in Rhode Island and 131 in Massachusetts.

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