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Union Bank to lay off up to 400 Central Coast employees

November 29, 2012

Union Bank officials are heading up the coast from Santa Barbara, through San Luis Obispo County to Monterey, handing out layoff notices to hundreds of Santa Barbara Bank & Trust employees at 14 branches, several employees said.

Union Bank’s purchase of Santa Barbara Bank & Trust for $1.5 billion is slated to close on Saturday.

Employees said they have received layoff notices that state if they do not take a new job within the next 60 days, they will receive severance packages. Union Bank officials started handing the notices out yesterday in Santa Barbara County and are currently working their way through San Luis Obispo County.

Debbie Whiteley, the executive vice president of public affairs, confirmed that the layoff notices were going out but said she was unable to give more details until tomorrow after all the employee notices are delivered.

In March, Pacific Capital, parent of wholly owned subsidiary Santa Barbara Bank & Trust, entered into the agreement to be acquired by UnionBanCal Corporation, the parent company of Union Bank. At the time, employees of Santa Barbara Bank & Trust were told their jobs were either secure or that the bank would work to find them new positions.

 


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My late husband used to say the cameras in the bank were pointing the wrong way.


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Nothing quite says a declining economy and a poorer group of citizenry than bank closures.


So when is this turn around happening again?


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RogerDodger,


“So when is this turn around happening again?”


How about, despite the top 2 percent’s unwillingness to invest in jobs, and even in the face of damning evidence against their comical and embarrassing tax myths, the top 2-4 percent fight like she-bears at any suggestion that they help support the country that provided their wealth.


Trickle down economics has been in effect since Reagan, so when do you think it’s finally going to trickle down to the middle-class? How many years has it been, and of which is still supported by the GOP? It’s coming is as distant as the Second Coming of Christ!


Roger, remain silent upon any perceived refutation that you may have, as usual.


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It’s just plain idiotic to go back thirtyyears and blame Reagen. The eighties was a time of great prosperity for all. But a liberal will always find something no matter how ridiclous to believe to prove what in there mind is right. or at least gets someone else to pay there way.and Ted I get your fake christian BS. You are far from a christian.


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19.5% compound(quarterly) interest on the nations debt is idiotic to consider? RR loved banks and banks loved him

http://en.wikipedia.org/wiki/Bonzo_Goes_to_Bitburg


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The high interest rates were caused by tax and spend policies of the Jimmie Carter years. Reagan fixed that.


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Honest solar panel Carter offered tax breaks to manufacturers to upgrade factories, the FED then raised rates(and kept them there for no good reason) driving over extended corporations into recievership this is how factories went to china on the cheap GHB and Barb Bush Nixon’s informal trade ambassadors [later S&L], just after reagan was elected hostages released rates went down. “Reagan’s full court press” team b double crosses to bring down the evil empire borrowd money from BANKERS to pay for this build up, the service charges from the various banks were 19,5% by late 88 this is among the reasons he presided over one of the biggest tax increases in history. I agree democratics tax and spend, honestly. the republics borrow and finance then blame the mess on someone else everytime. Reagan was a song and dance man some tinhorn aristocratic wannabe who had to be told what to say by the highest bidder he was nearly a doctrinare fascist_”fellows the Lincoln brigades fought for the wrong side” layed a wreath on a swastica monument to the men like these in cadid snapshots warning not for weak stomachs DUH!!! no wonder the german banks are threatening neighbors with the dough came from the country that fought against them in 42. courtesy NSC68 color me very deeply embarrassed by him and everyone who publicly praises him, I am sorry that is just the way I was raised.


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FineWino,


Very simply, when is “trickle down economics” going to start working by the “job creators” actually creating jobs? That was the mantra of the GOP in 2010. What happened? Does the top 4 percent need more tax breaks, off shore money accounts, and loopholes before this is promised once again? The GOP is on it’s last gasping breath.


Furthermore, I am more of a Christian than anyone else that I’ve encountered here at CCN that claims to be a Christian, because of the simple fact that I follow ALL OF THE BIBLE in it’s intended historical form. Get it?


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It worked! it was thirty years ago. Quit the christian BS you are not a christian.


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Eventually, there will be only ONE bank. They will charge you for each check you write, each withdrawl, and even for depositing your cash. Oh, wait! We are already being charged for those.


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Shortly after the fall of communism in Eastern Europe, my wife and I wanted to open a checking account in Romania (it was with a Austrian bank in Bucharest) and they actually had fees for everything except depositing cash.


If I wanted a statement: charge. If I wanted a WITHDRAWAL – they took a percentage! I kid you not! We couldn’t believe it, I mean this wasn’t some questionable former-commie Romanian bank, this was Österreich’s finest! This was early 1990’s – so things might have changed since then.


Needless to say, you may not be far off on your comment.


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OK, rOy- now this may seem like a really, really dumb question (and for all the other readers it certainly is), but I just have to ask: how did you manage to put an umlaut above the O in your comment?


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Unicode


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Obama has destroyed the small bank business model. They cannot comply with all of the regulations and micromanagement from the regulators and still be competitive. Ford was allowed to buy the bank from the feds that incidentally forgave debt and lost money as did all of the stockholders all while ford made close to a billion. I would think he must have gave plenty to the obama campaign.


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The bank gave them time to “find new positions”. Surprise….guess what “position” they wanted you in!! Sorry….it’s late.


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I’ll never forget the cartoon where an armed robber runs into the bank, approached the teller and sez, “give me the money”. Meanwhile in the back corner, the bank president sez, “amateurs”.


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It looks as if Gerald Ford was not an “amateur” in this case:


http://calcoastnews.com/2010/04/billionaire-banker-buys-pacific-capital-bancorp/


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This is good news that Union Bank is getting rid of Santa Barbra Bank & Trust employees! Since 2007 Santa Barbara Bank & Trust has been monthly overcharging the Oceano Nursery SBAPLP loan!


Unfortunatly the Oceano Nursery property has been lost due to Santa Barbara Bank & Trusts actions!


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