PNC laying off employees, exact amount not announced
PNC Bank is laying off an undisclosed number of employees, according to a statement from the company.
It remains unclear how many workers will be let go.
The banking giant based in Downtown Pittsburgh said in a statement that it is reviewing its 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,” said the statement. “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.”
PNC has closed several bank branches in the Pittsburgh region over the years, including one in Vandergrift and one on the Duquesne University campus earlier this year. In 2020, PNC closed 52 branches, including nine in Western Pennsylvania.
The banking giant is one of the largest financial companies in the nation and employs about 60,000 people companywide, according to PNC’s website. PNC has more than $558 billion in assets.
CEO William Demchak said in April that 6,000 PNC employees work in Downtown Pittsburgh, while about 12,000 work in the entire region.
Ryan Deto is a TribLive reporter covering politics, Pittsburgh and Allegheny County news. A native of California’s Bay Area, he joined the Trib in 2022 after spending more than six years covering Pittsburgh at the Pittsburgh City Paper, including serving as managing editor. He can be reached at rdeto@triblive.com.
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