Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

KeyBank plans 20 layoffs in Capital Region

Posted: May 28th, 2011 | Author: | Filed under: By Location, USA | Tags: , , | No Comments »

KeyBank is laying off 20 workers in its Albany-area technology development and support group.

The jobs will be eliminated over the next four to six months as the company outsources work to Hewlett-Packard and Cognizant Technology Solutions, according to a spokeswoman for the Cleveland-based bank.

Cognizant has its U.S. headquarters in New Jersey, though the majority of its employees are in nine cities in India, according to the Cleveland Plain Dealer, which reports that Key is also eliminating 64 jobs in northeastern Ohio

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