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Parts of Crossville were hit with a flash flood early Saturday afternoon, after a short stint of heavy rain that caught many off guard.More >> Parts of Crossville were hit with a flash flood early Saturday afternoon, after a short stint of heavy rain that caught many off guard.More >> Police investigating reports of an intoxicated driver made an unexpected discovery when a traffic stop yielded 335 pounds of marijuana.More >> Police investigating reports of an intoxicated driver made an unexpected discovery when a traffic stop yielded 335 pounds of marijuana.More >> The Chattanooga market will add hundreds of hotel rooms in the coming year, following four years of booming revenues for its hotel industry.More >> The Chattanooga market will add hundreds of hotel rooms in the coming year, following four years of booming revenues for its hotel industry.More >> A Powerball ticket sold in Tennessee barely missed winning a share of an estimated $590.5 million prize. But the ticket has a nice consolation prize worth $1 million.More >> A Powerball ticket sold in Tennessee barely missed winning a share of an estimated $590.5 million prize. But the ticket has a nice consolation prize worth $1 million.More >> A Knox County man is being charged for the murder of his brother, according to the Knox County Sheriff's Office.More >> A Knox County man is being charged for the murder of his brother, according to the Knox County Sheriff's Office.More >> A Maryville man is dead after a fiery wreck on Saturday morning, according to a Tennessee Highway Patrol accident report.More >> A Maryville man is dead after a fiery wreck on Saturday morning, according to a Tennessee Highway Patrol accident report.More >> Leaders of Nashville's convention center already are mapping out a possible future expansion of a center that spans six downtown blocks and sits on 19 acres.More >> Leaders of Nashville's convention center already are mapping out a possible future expansion of a center that spans six downtown blocks and sits on 19 acres.More >> Witnesses described a frantic scene and close calls after an elderly driver plowed into dozens of hikers marching in a small Virginia mountain town's parade.More >> An emergency official says authorities believe the driver who plowed into dozens of hikers marching in a Virginia mountain town parade suffered from a medical condition and did not cause the crash intentionally.More >> A program to help soldiers get loans to purchase homes has gotten a permanent extension.More >> A program to help soldiers get loans to purchase homes has gotten a permanent extension.More >> First lady Michelle Obama has some advice for some Tennessee high school graduates: strike your own path in college and life and work to overcome inevitable failures with determination and grit.More >> First lady Michelle Obama has some advice for some Tennessee high school graduates: strike your own path in college and life and work to overcome inevitable failures with determination and grit.More >>
MEMPHIS (AP) - Memphis-based First Tennessee Bank aims to reduce its 4,500-employee workforce by about 4% into next year.
According to The Commercial Appeal, the bank offered buyouts to about 400 middle management workers Thursday, expecting about 10% of them to accept the deal. It's on the table until Oct. 31 and offers six months' to one year's salary, depending on tenure.
First Tennessee won't hire replacements as an expected 160 other positions become vacant.
Bank chief human resources officer John Daniel said banks are under pressure to cut expenses because interest rates have fallen so low.
First Tennessee is the largest bank based in the state.
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