Radical restructuring has become standard operating procedure for banks trying to cope with sluggish revenue growth. Last week's announcement by Chemical Banking Corp. of plans to slash 3,700 jobs and to prune expenses by $440 million over two years is only the latest in a string of such cost-cutting moves. And it's likely not to be the last.

Chopping Back Number Expense of jobs savings cut In millionsChemical 3,700 $440Banking Over two yearsFleet 3,000 $300Finance In oneGroup yearFirst 3,000 $167Interstate In 18Bancorp monthsBanc 4,300 $140One In one year

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