BRIDGEPORT — M&T Bank has laid off 325 employees in Connecticut related to its acquisition of People’s United Bank, while it is planning to eliminate another 333 positions and hiring for about 350 other jobs, the highly scrutinized company disclosed in a letter this week to state Attorney General William Tong.
The letter, which responds to questions asked by Tong in a Sept. 14 letter to the bank, constitutes one of the most-comprehensive updates that Buffalo, N.Y.-headquartered M&T has provided about its workforce in Connecticut since announcing in July 2021 that, as a result of the $8.3 billion acquisition, it planned to lay off 747 employees in the state — including about 660 based in People’s United’s home city of Bridgeport. When they were originally announced, the layoffs were condemned by many elected officials including Tong, who also sent a related letter to M&T in August 2021.
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Article URL : https://www.ctinsider.com/business/article/m-and-t-bank-layoffs-connecticut-17477009.php