Nov. 23, 10:48 A.M. -- KeyCorp said Tuesday it would fire up to 11% of its workforce, or 3,000 employees, by the end of next year and put its credit card operations on the auction block in a bid to improve earnings.

The $83 billion-asset Cleveland-based banking company said it will take a $180 million charge in the fourth quarter 1999, which would be offset by a $190 million gain during the period on the sale of the company's retail operations in Long Island, N.Y., to Dime Bancorp in New York.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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