Wachovia Reports Loss, Job Cuts
Associated Press
2008-07-22 08:15:00.0
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The nation's fourth-largest bank is reporting a loss of nearly $8.9 billion in the second quarter.
Wachovia is also announcing plans to slash its dividend and cut more than 6,000 jobs. Wall Street initially retreated on the discouraging news from Wachovia and other blue chips, but stocks have now turned mixed.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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