About 10 days after denying that any major job cuts were afoot, First Horizon National Corp., Memphis, has confirmed that it will eliminate 1,500 mortgage positions and shut 50 offices.The company did not issue a news release on PR Newswire, but the reductions were reported early Wednesday by American Banker, a sister publication to National Mortgage News. The job cuts were revealed by First Horizon chief executive Gerald Baker at a Lehman Brothers conference. On Aug. 31, John Daniels, the head of human resources for First Horizon, told NMN that there "are no massive layoffs" coming, adding that the mortgage lender was still hiring.

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