Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, August 5, 1993 TAG: 9308050104
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
DATELINE: LENGTH: Short
It is the second wave of job eliminations made public this week. On Tuesday, the company acknowledged about a dozen high-ranking executives have been told their jobs were eliminated.
Wednesday's action directly affected employees who are left in the international department.
The division once had about 20 employees. The others were terminated in March, when Charlotte-based First Union acquired Roanoke's Dominion Bankshares Corp.
At the time the merger was announced nearly a year ago, First Union officials cited the international division as a function likely to remain in Roanoke. But on Wednesday the company said the international department jobs will leave Roanoke on Oct. 15.
First Union spokesman R. Jeep Bryant said 10 positions are affected. Employees who do not wish to transfer will receive help in finding other jobs with the company, he said.
The international division handles trade financing, mostly assisting commercial customers with import and export financing, he said. International transactions for Roanoke-area customers will be handled from the two other locations, Bryant said.
The decision to close the Roanoke operation was not related to the local market, he said. Rather, the move is part of First Union's continuing functional reorganization.
by CNB