The Federal Reserve Bank of New York told 39 employees over the last three weeks that their positions would be eliminated by March.

"They have a chance to find other jobs in the bank through postings and we'll try to help them find stuff outside,'' a New York Fed spokesman said. They work in protection, fiscal, cash, administrative, audit, and building services. In late June, nine data processing employees were also told their positions would be cut.

"As they've gained efficiencies in their operations, that allows us to reduce staff," the spokesman said. The New York Fed employs about 3,800 people, compared with 4,100 in 1989. -- Katharine Fraser0

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