California Federal Bank detailed plans this weekend to lay off 10% of its work force, furthering speculation that the brand-new thrift is preparing to put itself up for sale.

On completing their merger late Friday, California Federal Bank and Glendale Federal Bank said 250 people would immediately lose their jobs and 600 more would get the ax by yearend. Most of the layoffs will affect Glendale employees, a spokeswoman said.

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