EmploymentSpectator

Pacific Capital Bancorp to Cut 300 Jobs

Santa Barbara, California bank holding firm Pacific Capital Bancorp will cut 300 workers, or 22% of its workforce. The company will cut 80 positions in Q1 and the rest in the Q2, saving $20 million a year. PCBC, which had $9.57 billion of assets at Dec. 31, estimates one-time severance-related costs of $3 million to $5 million [...]

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