© 2022 WSHU
NPR News & Classical Music
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Connecticut News

M&T Bank Says It Will Maintain New England Headquarters In Bridgeport After People's United Merger

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

Buffalo-based M&T Bank said it is committed to Bridgeport as its New England regional headquarters. The bank plans to keep at least 1,000 local jobs after its acquisition of Bridgeport-based People’s United Bank.

Last month, M&T Bank said it would lay off about 750 employees in Bridgeport.

That drew criticism from Connecticut Attorney General William Tong, who began an inquiry into the merger. Bridgeport Mayor Joe Ganim threatened to pull city funds from the bank.

Now, M&T Bank said it expects it will lay off fewer than 750 employees, and that it will help laid off workers find new jobs or alternate positions in the company.