TD Banknorth to Take Charge in Q2 on Job Cuts

Bloomberg, Doug Alexander, 24 April 2007TD Banknorth Inc., the U.S. consumer-banking unit of Toronto-Dominion Bank, will take a pretax charge of $16 million to $20 million in the second quarter for job cuts and branch closures.The costs are related to the decision by the Canadian bank to buy the shares of TD Banknorth it didn't already own and delist the stock, according to a filing sent to U.S.