BB&T is set to axe 241 jobs in Pennsylvania as part of the integration process of Allentown-based National Penn Bank that it acquired early this year.
The move will mostly affect employees in administrative support, settlements, records maintenance and accounting, BB&T spokesman David White said.
A total of 87 jobs will be affected in Allentown by the move, while 154 will be affected in Boyertown.
The layoffs are expected to be completed within 60 days, with affected staff staying through the 60-day notice period to receive severance benefits and career transition services.
North Carolina-based BB&T completed its $1.8bn acquisition of National Penn Bank in April 2016. The deal helped BB&T gain $9.6bn in assets, and 126 banking offices in Pennsylvania, New Jersey and Maryland.
The layoffs following the transaction were not unexpected. While announcing the deal in August 2015, BB&T said that it expects to achieve about $65m in cost savings, or nearly 30% of National Penn’s non-interest expenses.
