BB&T is set to close Susquehanna’s loan processing center in Hagerstown, Maryland, resulting in 140 more layoffs from the recently-acquired Susquehanna Bancshares.
Majority of the affected employees work in administrative and support capacity of the unit.
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The company said that affected employees working during the 60-day notice period will receive severance packages and outplacement services.
BB&T added that it intends to absorb the affected employees into other positions at the company.
The latest round of layoffs is a result of BB&T’s efforts to consolidate its operations in Maryland with Susquehanna’s to create a new Maryland Region.
More layoffs are expected as the bank intends to create three new geographic banking regions as part of its integration process, namely Western Maryland and Pennsylvania, Central Pennsylvania, and the Greater Delaware Valley.
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