Bank cuts force, sends jobs to India (First Horizon National Corp)

[OhioChick]

April 13, 2007
Cost-cutting and outsourcing will eliminate 44 jobs at the First Horizon National Corp. bank operations center in Memphis.

The jobs, mostly in keying in information on checks that can't go through the imaging system, will be phased out over the next three to six months, said Jim Blasingame, manager of the bank operations division.

Some workers will be placed in other jobs at the company, others will get placement help and severance packages.

The moves are part of cost-cutting measures that will trim 176 jobs in operations and mortgage servicing and send the work to India, Blasingame said.

That is expected to save Memphis-based First Horizon several million dollars a year, he said.

http://www.commercialappeal.com/mca/business_columnists/article/0,1426,MCA_441_5481238,00.html

[Larkspur]

1. Wonder how much the CEO and other Execs are getting?

[LiberalFighter]

2. Locals in and near Memphis need to write LTTE

[Double T]

3. What are these geniuses going to do when no one is working.........

and no one is depositing paychecks, obtaining mortgages, obtaining car loans etc.?? First Horizons National should begin plans to move their entire bank, branches and operations to India.