A Look at What’s in Store for Business and Workers : It won’t be dull, that’s for sure. The new year will see dramatic changes for U.S. industry and the American worker. Business writers at The Times polled experts on what is likely to happen in 1989. Here is their report. : BANKS

The big news in banking this year is likely to be an increase in the pace of mergers and acquisitions among California banks as the state moves a year closer to the magic 1991, when California opens its doors to full interstate banking. California’s major banks are expected to continue buying strategically placed smaller banks to solidify their market share in regions where they are weak.

Bank of America, which can’t really afford to buy another bank, will continue to use its huge branch network to attract more individual customers. The bank also expects to continue showing improved earnings and, barring unforeseen occurrences, seems certain to reinstate its dividend for stockholders sometime this year.

One danger lurking for banks, particularly B of A and First Interstate, is the possibility of a recession in 1989, which would make attempts to improve earnings difficult. Another potential setback for the state’s big banks, particularly Wells Fargo, would be any trouble in the leveraged buyout arena. Wells Fargo is among the nation’s biggest LBO lenders.

Also expect more news of job cuts at the big banks as they work to reduce overhead.