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National City Corp. Story Unlikely to Have Happy Ending

Jura, I feel for your position. As a former employee I still have many friends and contacts within the bank. They have told me that NCB is systematically downsizing their departments one employee at a time. Some of their best performers are being transferred, put on probation (to avoid payment of incentives), and fired. I have even heard of departments lacking office supplies as their budgets are being cut. It's a catch-22 for employees. If you perform poorly the bank has an excuse to terminate you, thus decreasing payroll expense. If you outperform others (thereby earning significant bonuses and incentives) the bank may want to terminate you as well. Most executives will focus on the short-term issues since they are so crucial. Many NCB employees are updating their resumes in hopes of finding a more stable position. In times of crisis no one is safe.