Recession puts brakes on America's limos

* Biggest limousine operators report layoffs, closures

* Trade editor cites "spook factor" from bank customers

* Putting executives into taxis

By Ross Kerber

BOSTON, June 23 (Reuters) - U.S. limousine companies are laying off workers and closing offices as the recession cuts into demand for the shiny black symbols of wealth and power.

Big financial companies, which routinely used limos in earlier times of plenty, are turning to less flamboyant transportation to save money and to avoid an appearance of profligacy at a time of national austerity.

BostonCoach, the limousine division owned by mutual fund giant Fidelity Investments, has closed branches in San Francisco, Dallas and Atlanta and a spokesman said the company now has 877 employees, down from 1,200 in April last year.

BostonCoach was the fourth-biggest U.S. limousine operator last year, with 671 vehicles, according to trade figures.

Its bigger national rivals also have laid off workers. They include Carey International Inc of Washington D.C., with 1,350 cars, and Dav El Chauffeured Transportation Network in Chelsea, Massachusetts, with 1,036 cars.