New York-based First Niagara Financial Group (FNFG) is, reportedly, planning to close ten branches and cut 170 administrative jobs to revamp its retail operations.
Among the affected will be ten employees and three branches in Western New York region, which will be closed on 7 March 2014.
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The move by FNFG is to centralise its administrative functions and redirect the branch jobs towards customers’ service.
FNFG retail banking executive vice president, Mark Rendulic, said the bank is adjusting to how its customers are using branches, mobile and online banking, phone services and ATMs.
"I think over time, our front-line, in-branch employees will be more and more focused on meeting the more-complex needs of the customer, and less and less on that transaction volume," Rendulic added.
FNFG has already invited affected employees to apply for over 250 jobs in the company, which ware mainly based in Western New York region. The remaining employees will, however, receive severance benefits.
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