More than 50 employees at the People’s United Bank processing center in Brattleboro will be laid off.
The layoffs are expected to start in October and be completed by about May 20, 2022. M&T Bank Corporation and People’s United Financial Inc. announced in February that M&T would acquire People’s United in an all-stock transaction worth about $7.6 billion.
An M&T spokesperson says last week the company communicated a number of workforce reductions at People’s United as part of its continued efforts to finalize the merger. M&T says it's keeping nearly 80% of People’s United employees overall.
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