50 to lose jobs at the People’s United Bank processing center

50 to lose jobs at the People’s United Bank processing center

M&T said it’s keeping nearly 80% of People’s United employees overall, including branch and customer service employees, the newspaper reported.

The layoffs are expected to start in October and be completed by about May 20, 2022, the Brattleboro Reformer reported on Sunday. M&T Bank Corporation and People’s United Financial Inc. announced in February that M&T would acquire People’s United in an all-stock transaction worth about $7.6 billion. “This week we communicated a number of workforce reductions at People’s United as part of our continued efforts to finalize the merger,” said a spokesperson for M&T. “This step was taken to help ensure our new organization is structured in a way that provides the best quality service for our customers and communities.”

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