said late Monday that it would cut 1,015 jobs, about 22% of the present total, to save $43 million a year.

The $14.6 billion-asset Honolulu banking company, which owns Bank of Hawaii, said it expects to take a $23 million charge in the third quarter to cover the cuts. Those cuts are a main feature of a restructuring program called New Era that is expected to boost revenues $21 million by the fourth quarter of 2000, the banking company said.

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