ATLANTA - SunTrust Banks is freezing the salaries of about 130 senior executives -- who also will not receive annual bonuses. <br>
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The nation's tenth-largest commercial bank is citing a difficult operating environment for all banks. <br>
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SunTrust also is eliminating a bonus program for about 11,000 non-management employees, including administrative staff. Those workers will receive a one-time boost in their base pay of three percent. <br>
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Sales incentives won't be affected. A spokesman declined to say how much SunTrust hopes to save from the pay freezes. <br>
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In April, SunTrust said slowing revenue would force it to reduce its workforce through a hiring freeze and attrition. <br>
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Since 1999, SunTrust's workforce has been reduced from 31,000 employees to about 27,000.
