Wachovia to see heavy downsizing
Lloyds TSB, which took over HBOS in a $21.5-billion buyout, also said that the deal will create one of the strongest banks in the UK but lead to thousands of job losses and branch closures.
Similarly, Wachovia which was acquired by Citigroup will also see some jobs being lost.
Image: Pedestrians walk past a Wachovia Bank branch in New York. | Photograph: Don Emmert/AFP/Getty Images
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