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M&T Bank Originally Planned To Lay Off Hundreds Of Conn. Workers. Now It's Changing Course.

People's United Bank in Worcester, Massachusetts
Andre Carrotflower
/
Wikimedia Commons

New York-based M&T Bank is back-tracking on plans to lay off more than 700 People’s Bank employees in Connecticut.

The two banks last week notified the Connecticut Department of Labor about the job cuts when their merger is finalized.

M&T this week announced that it would continue to employ nearly all customer-facing employees in local branches. It also plans to give priority to laid-off workers in filling about 1,500 open positions.

M&T’s planned purchase of People's has received shareholder approval and now awaits federal approval.

The merger was announced in February, in an all-stock transaction valued at $7.6 billion.

Bill began his radio journey on Long Island, followed by stops in Schenectady, Bridgeport, Boston and New York City. He’s glad to be back on the air in Fairfield County, where he has lived with his wife and two sons for more than 20 years.