Blumenthal Demands More Information on Extent & Impact of M&T Bank Layoffs

[WASHINGTON, DC] – U.S. Senator Richard Blumenthal (D-CT) today wrote to M&T Bank demanding more information about the extent of the bank’s layoffs of Connecticut employees.

M&T Bank reported recently that it has laid off over 300 people during its acquisition of People’s United Bank and another 333 people are expected to be laid off in the future.

“As you know I have been deeply concerned about the potential adverse impacts of the merger on the hardworking employees of People’s United Bank and have consistently advocated for transparency and support for any impacted individuals and the community. The recent news reports of layoffs of People’s United employees, low rehiring numbers of People’s United employees to new M&T positions, and complaints that some employees have been “pushed into lower-pay positions” are deeply troubling,” Senator Blumenthal wrote.

In the letter, Blumenthal asks M&T to provide information about the number of open positions in Connecticut, how many People’s United employees have been or will be laid off and what steps are being taken by the bank to mitigate the number of layoffs and eliminated positions.

Full text of the letter can be found here.

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