BREAKING NEWS THIS AFTERNOON. WE ARE LEARNING FROM PNC BANK OFFICIALS THAT SOME CHANGES ARE COMING TO THE COMPANY AND IT’S GOING TO MEAN SOME LAYOFFS. IN A STATEMENT, PNC SAYS, QUOTE, AS PART OF OUR STRONG FOCUS ON EXPENSE MANAGEMENT, WE REVIEWED OUR ORGANIZATIONAL STRUCTURE AND IDENTIFIED AN OPPORTUNITY TO BETTER POSITION OUR COMPANY FOR LONG TERM SUCCESS. THIS INCLUDES A SHIFT AWAY FROM WORK NOT FULLY ALIGNED TO OUR STRATEGIC PRIORITIES AND WILL RESULT IN A REDUCTION IN STAFFING LEVELS IN CERTAIN AREAS. END QUOTE. NOW PITTSBURGH’S ACTION NEWS 4 HAS REACHED OUT TO THE BANK AND ASKED ABOU
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Layoffs looming at PNC; company says it will cut staff by 4%
PNC Bank is looking to lay off a portion of its staff, officials said this week.On Friday, a spokesperson confirmed that PNC is looking to trim its staff by 4%. The Pittsburgh-based bank has still not said which types of positions would be cut.The company employed about 61,500 people as of December, with about 12,000 working in the Pittsburgh region.PNC held its third-quarter earnings call on Friday.A spokesperson for PNC provided Pittsburgh’s Action News 4 with this statement:”As part of our strong focus on expense management, we have reviewed our organizational structure and have identified an opportunity to better position our company for long-term success. This includes a shift away from work not fully aligned to our strategic priorities and will result in a reduction in staffing levels in certain areas. While these decisions are never easy, we believe these measures will help us more effectively and efficiently deliver for our customers and stakeholders, now and going forward.”According to the Pennsylvania Department of Labor and Industry, PNC Bank ranks as the 14th-largest employer in the commonwealth. In Allegheny County, it ranks seventh. PNC was not clear about if jobs in our region or in Pennsylvania were going to be cut.We are looking to learn more about this, which positions might be impacted and when layoffs might occur. This is a developing story. Stay with Pittsburgh’s Action News 4 for updates. Download the WTAE mobile app to stay connected with breaking news.
PNC Bank is looking to lay off a portion of its staff, officials said this week.
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On Friday, a spokesperson confirmed that PNC is looking to trim its staff by 4%. The Pittsburgh-based bank has still not said which types of positions would be cut.
The company employed about 61,500 people as of December, with about 12,000 working in the Pittsburgh region.
PNC held its third-quarter earnings call on Friday.
A spokesperson for PNC provided Pittsburgh’s Action News 4 with this statement:
“As part of our strong focus on expense management, we have reviewed our organizational structure and have identified an opportunity to better position our company for long-term success. This includes a shift away from work not fully aligned to our strategic priorities and will result in a reduction in staffing levels in certain areas. While these decisions are never easy, we believe these measures will help us more effectively and efficiently deliver for our customers and stakeholders, now and going forward.”
According to the Pennsylvania Department of Labor and Industry, PNC Bank ranks as the 14th-largest employer in the commonwealth. In Allegheny County, it ranks seventh. PNC was not clear about if jobs in our region or in Pennsylvania were going to be cut.
We are looking to learn more about this, which positions might be impacted and when layoffs might occur.
This is a developing story. Stay with Pittsburgh’s Action News 4 for updates. Download the WTAE mobile app to stay connected with breaking news.
Source: wtae.com
