A Santa Ana S&L; announced cuts in staff and services.
Under pressure from state and federal regulators after losing $13.6 million in 15 months, Butterfield Equities Corp., parent of Butterfield S&L;, said it has laid off about 80 employees--30% of its staff. Butterfield, considered one of the most entrepreneurial new S&Ls; in the nation, also is curtailing most of its non-traditional services, including real estate syndication. The company also is selling off some of its restaurant operations.
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