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Los Alamos National Bank cuts 10% of workforce

Following a strategic business review, Los Alamos National Bank of New Mexico is letting go of 26 employees, or 10% of its overall workforce.

The Trinity Capital Corp. unit cited its business costs, which were 30% to 40% higher than similar banks', for the staff reduction. Some of the employees were immediately laid off while others would remain until the bank transitions out of various business lines that would be managed by a third party.