Sovereign Bank Cutting 950 Jobs: Almost 9 percent of workforce

There are 14 comments on the The Morning Call story from May 1, 2009, titled Sovereign Bank Cutting 950 Jobs: Almost 9 percent of workforce. In it, The Morning Call reports that:

Sovereign Bank officials say they will cut 950 jobs, or almost 9 percent of its work force, as part of cost-saving measures in response to the economic downturn.

Join the discussion below, or Read more at The Morning Call.

Be Prepared

Allentown, PA

#1 May 1, 2009
Thank goodness the economy is picking up. What happens when companies decide they never need any of the millions of laid off back?
SovBankSux

Emmaus, PA

#2 May 1, 2009
In response to a bad economy, where WE aren't making enough money because people don't have jobs, we're firing 950 of our employees, adding to the economic downturn.

Tune in next week where we'll fire another 950.
FatBeard

Philadelphia, PA

#3 May 1, 2009
i wasnt aware that Soveriegn was that big.
Sue

Shamokin, PA

#4 May 1, 2009
I would never deal with these big banks. I always try and use a local bank.
FatBeard

Philadelphia, PA

#5 May 1, 2009
Sue wrote:
I would never deal with these big banks. I always try and use a local bank.
what is the difference?
bankernomore

Philadelphia, PA

#6 May 1, 2009
Most banks are laying off as we all are aware banks are for profit companies. So, not really news this has been in the works for a long time with many banks.

http://layofflist.wordpress.com/2009/02/03/fe...

http://www.reuters.com/article/ousiv/idUSTRE5...
bankernomore

Philadelphia, PA

#7 May 1, 2009
There have been so many reports about all these banks laying off but, it seems to be kept very quiet. They all seem to lack in loyalty.

http://www.nowpublic.com/tech-biz/layoffs-lis...

http://invest-n-trade.blogspot.com/2009/02/pn...

http://www.bizjournals.com/triad/stories/2008...
bankernomore

Philadelphia, PA

#8 May 2, 2009
As we can see by the lack of comments most people will continue to let the banks do as they please.
sdp

Parkesburg, PA

#9 Jun 30, 2009
bankernomore wrote:
As we can see by the lack of comments most people will continue to let the banks do as they please.
So much for Santander's selling model. We were sold a bill of goods and executed exactly like they wanted us to. After that, they were finished with us.
bankernomore

Souderton, PA

#10 Jul 5, 2009
Be Prepared wrote:
Thank goodness the economy is picking up. What happens when companies decide they never need any of the millions of laid off back?
The economy may be starting to come back but, beware of the banks they are on the prowl for your money. The fees will be relentless from most banks. Do not trust the banks take it from someone who knows.
Yeah Right

The Villages, FL

#12 Jul 10, 2009
The economy isn't "coming back." Not exactly. We are just losing less jobs than we did the month before, but we are still losing jobs: hardly what I will call a comeback.
bankernomore

Brookhaven, PA

#13 Jul 13, 2009
Yeah Right wrote:
The economy isn't "coming back." Not exactly. We are just losing less jobs than we did the month before, but we are still losing jobs: hardly what I will call a comeback.
The big corporations, CEO's and banks always win and the average worker will always pay the price. How do you think these banking, wall streeted and corporate ceo's will be able to take massive bonuses by, laying off people which gives them more profit then a big old bonus. The banks don't care either way if the cut people or not it is about the top few getting richer. When will people realize the banks are for profit businesses that is why they lay off people and charge outragious fees to the customers.
Happy Crack-er

Slatington, PA

#14 Jul 14, 2009
The "Messiah" will fix this, you just wait and see!! I bet over 500 voted for Obama as well , HA HA HA HA, I cant wait for the next election, I bet those laid off dont even vote, or they will say Why didnt we vote for Hillary!! Too Little too late, everyone wanted change, you got it, laid off and your next job will be 10 bucks an hour, Obama's way of fixing it, he will bring back the sweat shops, get ready
Rob

Sarasota, FL

#15 Jul 14, 2009
"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson

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