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Wachovia has $8.9B loss, cuts 6,350 jobs, dividend (AP)

Written by on July 22nd, 2008 in Latest News.

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Customers use an ATM outside a Wachovia branch bank in Charlotte, N.C., Friday, July 18, 2008. Wachovia says it lost $8.86 billion in the second quarter, hurt by a big goodwill charge and an increase in reserves for bad loans as mortgage defaults soar. (AP Photo/Chuck Burton)AP – Wachovia Corp. said Tuesday it lost $8.86 billion in the second quarter, slashed its dividend and announced 6,350 job cuts after losses tied to mortgages soared.

Original post by AP and software by Elliott Back

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