The aggressive job cutting that started late last year at KeyCorp could reach into senior management, including some of the Cleveland company's top 25 executives, according to sources familiar with the situation.

Such high-level changes have been mentioned before, but the likelihood of their happening now is considered greater because KeyCorp is undergoing its most extensive restructuring. Examples of upper-level changes are said to include the elimination of some jobs that involve overseeing certain business lines and regions.

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