- Associated Press - Friday, May 20, 2016

MADISON, Wis. (AP) - The new owner of AnchorBank is cutting 140 employees, nearly all of them at Madison locations.

The Wisconsin State Journal reports (https://bit.ly/255l3lj ) the cuts amount to about 25 percent of employment at the Madison bank.

Old National Bank of Evansville, Indiana, bought Anchor on May 1 in a $462.6 million cash and stock transaction. Job cuts were expected but weren’t detailed until Thursday.

Old National said most of the positions will end Sept. 30, with the remaining jobs disappearing in 2017.

___

Information from: Wisconsin State Journal, https://www.madison.com/wsj

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide