Minnesota-based US bank decided to close its mortgage lending office in Bedford, a step that will affect around 260 employees.
The branch is located at Rockside Road in Bedford. According to a WARN notice filed with the Ohio Department of Job and Family Services, the shutdown will be permanent while the first separations of employment will start on 9 July this year.
The notice also stated that no bumping rights exist where the less senior workers are laid off first. There is also no union at the location that can represent the laid-off employees.
Under the established laws, a 60- day notice must be given in case of major lay-offs.
US Bank spokesperson Molly Snyder was quoted by cleveland.com as saying: “After a strategic review of our real estate footprint, we have made the decision to close the US Bank satellite office in Bedford, Ohio, when its lease expires this fall.”
Following the closing of this Bedford office, its works will be distributed to other offices of the bank.
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US Bank is one of the largest banks in the US with more than $462bn in assets. It employs more than 73,000 people across the country.