Most branches that will close are within a half mile of another First Union or Wachovia branch, as the banks have said since announcing their merger last month. They won't say where or when those cuts will come. First Union spokeswoman Laurie Hedrick said employees of closed branches may get jobs elsewhere in the bank. No branches will close until the end of 2002. Kelly also said the banks will close a data center fairly quickly.
Banks use such centers to store customer account information on mainframe computers.
Neither First Union nor Wachovia will say which data center will close or how many people it employs. The highly secure locations typically house expensive technology but don't employ many people. About half the savings will come in the first 17 months after the deal is final, Kelly said. The merger is expected to close in the year's third quarter. The Associated Press.