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Note: Bank of New York Mellon plans to cut about 1,500 jobs, or 3 percent of its workforce, to stem rising expenses.
* CEO Kelly: expenses growing "unsustainably"
* Hiring freeze, turnover to reduce layoff total
BOSTON - Bank of New York Mellon Corp plans to cut about 1,500 jobs, or 3 percent of its workforce, to stem rising expenses.
The job cuts are the latest in the financial industry, as institutions brace for slower-than-expected economic growth.
A spokesman for the New York bank, Kevin Heine, said...