© 2023 Connecticut Public

FCC Public Inspection Files:
WEDH · WEDN · WEDW · WEDY · WNPR
WPKT · WRLI-FM · WEDW-FM · Public Files Contact
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

700 Workers To Lose Jobs In Sale Of People's United Bank

More than 700 employees of People's United Bank in Connecticut will lose their jobs when the lender is acquired by a New York bank. According to the Hartford Courant, a filing by M&T Bank with the Connecticut Labor Department says 747 positions in Connecticut will be eliminated. That includes 661 at People's Bridgeport headquarters. M&T is located in Buffalo, New York. Its planned purchase of People's in an all-stock deal valued around $7.6 billion was announced in February. Branches of the two regional banks are sprinkled throughout the Northeast and mid-Atlantic. The layoffs are expected to start in October.

Tags
The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.

Stand up for civility

This news story is funded in large part by Connecticut Public’s Members — listeners, viewers, and readers like you who value fact-based journalism and trustworthy information.

We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. As a community-supported public media service, Connecticut Public has relied on donor support for more than 50 years.

Your donation today will allow us to continue this work on your behalf. Give today at any amount and join the 50,000 members who are building a better—and more civil—Connecticut to live, work, and play.

Related Content