Chemical Banking Corp. and Manufacturers Hanover Corp. yesterday laid off 12 municipal securities professionals and 18 other executives from their soon-to-be melded securities subsidiaries, spokespeople for both banks confirmed yesterday.

The banks are pursuing an ongoing restructuring as part of the merger they announced on July 15. They are expected to cut 6,200 employees from their combined 43,000 bank employees, with about 1,000 let go so far, the spokespeople said.

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