First National to cut London jobs

Tuesday 23 February 1999 01:02 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

First National to cut London jobs

AROUND 180 jobs are to go at the London offices of First National Bank of Chicago as a result of a decision in the wake of the bank's merger with rival Bank One last year to pull out of the over-the-counter derivatives market.

The bank intends to concentrate on servicing large US corporates or Europeans with substantial US operations. The bank currently employs 500 staff. The bank is also cutting back in Hong Kong.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

First National to cut London jobs

Join our commenting forum

Thank you for registering