Comerica Inc. said Wednesday it would slash 1,900 jobs - 16% of its work force - in a bid to become a long-term survivor in a consolidating industry.

The Detroit-based company said the staff cuts, combined with some streamlining of procedures, would produce a pretax savings of $110 million next year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.