Thursday, October 23, 2008

Our Economy

Puerto Rico bank to cut US branches, jobs

Popular Inc, the parent of Banco Popular, said on Wednesday it plans to eliminate more than one-fourth of its 139 US branches and cut its US workforce by 600 to cope with the nation's economic downturn.

Puerto Rico's largest bank also posted a third-quarter loss of $668.5 million, or $2.42 per share.
For the complete Reuters report, go to
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