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Report: First Horizon to Lay Off 1,500, Close 50 Offices 

Sep 12, 2007By

American Banker is reporting today that First Horizon will lay off 1,500 employees — 50 percent of its sales force — amid a continuing downturn in the mortgage markets. Company CEO Gerald Baker disclosed the plan during a speech yesterday, and said the financial services provider will also close 50 offices as part of its move. An excerpt: