(WTNH) – M&T Bank, which recently merged with People’s United Bank, has laid off more than 300 Connecticut employees.
M&T Bank told Connecticut Attorney General William Tong in a letter that 325 employees were notified in July 2021 that they were being terminated. There are 333 people who are scheduled to be released in the future. No time frame has been released at this time.
“So many people are losing their jobs,” Tong said. “So many families in Connecticut are impacted. I’m on them every single day. These job losses are not what I expected.”
According to M&T Bank, currently, 1,117 people are based out of Bridgeport and M&T currently employs 2,373 people in Connecticut. That figure includes the employees scheduled to be laid off in the future.
“They’ve said they’ve done better. Not good enough,” Tong said. “Even though there are fewer than 747 jobs lost right now, who knows what’s going to happen in the months and years ahead.”
M&T told Tong that there are currently 346 openings in Connecticut that include banking services, business banking, commercial banking, and several other job functions.
The announcement of the layoffs comes after M&T acquired People’s United Bank last month. Since the acquisition, many customers still have questions and complaints about their bank accounts and services.
“I don’t have my debit cards,” said Isabella O’Brien, an M&T customer. “They haven’t come in the mail and they said they would by the 20th. No access to my online statements and I just waited more than a half hour to deposit checks.”
As of Monday, Tong said his office has received more than 200 complaints about the M&T merger from customers.
Tong said he requested a meeting with M&T’s CEO and expects him to come to Bridgeport to discuss how they’re going to step up and help employees.
M&T’s executive vice president told Tong they remain “committed to providing our customers with the best possible banking experience.”
A spokesperson with M&T Bank told News 8 that the numbers were reported to the state in August 2021, and that the amount of positions set to be eliminated have been reduced.
“What hasn’t changed is our commitment to growing jobs in all of our communities, especially in our regional headquarters of Bridgeport, where we have promised 1,000 employees,” a written statement to News 8 reads. “That commitment was made for one year from conversion weekend, which was less than a month ago. We will be hosting another job fair in Bridgeport on October 25, and we welcome all support to get the word out to fill strong job opportunities with good pay and competitive benefits. We take seriously our role as a community bank and that includes hiring in a proactive way to meet our goals and deliver on our commitments.”