Amcore Financial will reduce its workforce by 9%, and cut executive pay. The company will eliminate 116 positions, including that of chief operating officer. The firm reduced staff positions by 11% in Q4 2008. The company has also cut executive salaries by 5%, canceled merit-based pay increases, and slashed contributions to its 401(k) plan. Amcore is a multi-bank [...]
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Tuesday, April 28, 2009
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