Comerica plans to lay off 5% of workforce.
Dallas-based Comerica Inc. earned a small profit in the last three months of 2008, set aside more money for credit losses and announced plans to cut 5 percent of its workforce, according to an earnings report released Thursday.
The bank, which moved from Detroit to Dallas in 2007 and still has a large employment base in Michigan, said it has already cut about 5 percent of its labor force since late 2007.
The additional 5 percent cut announced Thursday will be largely completed by the end of March.
Source: Dallas Morning News
Its going hard on organizations and employees as well.