Employment News
M&T Bank Cutting 521 Jobs
By Erik Even | Dated: 03-06-2009
M&T Bank will lay off almost 30% of Provident Bankshares’ workforce, when its acquisition of the Baltimore-based company is completed in May.While 521 jobs will be phased out over three months, another 1,305 positions will be retained.
Most of the losses will be at Provident’s headquarters.
M&T Bank, a $65.2 billion-asset financial services company, last December agreed to acquire the $6.4 billion-asset Provident.
M&T will acquire 143 new branch offices located primarily in Maryland and Virginia, adding to its current total of 177 branches in the same region.
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