At this stage every bank's individual estimate is revealed, too.

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Unison claims job cuts will be "at least three figures", but the city council stressed it was not in a position to estimate any losses at this stage.

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"This is the first stage in the process and unfortunately we are unable to estimate the time period involved in finding a purchaser, " it said.

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Different reports estimate how long it took the Facebook team to redesign to prototype stage.

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