M&T Bank reports 325 CT layoffs, plans to cut 333 more jobs
BRIDGEPORT — M&T Bank has laid off 325 employees in Connecticut as part of its acquisition of People’s United Bank, as it plans to cut another 333 positions and hire for about 350 more jobs, the closely watched company revealed in a letter this week to the state attorney. General Guillaume Tong.
The letter, which responds to questions posed by Tong in a Sept. 14 letter to the bank, is one of the most comprehensive updates that M&T, headquartered in Buffalo, New York, provided on its workforce in Connecticut since announcing in July 2021 that, as a result of the $8.3 billion acquisition, it planned to lay off 747 employees in the state, including about 660 based in the People’s United hometown of Bridgeport. When initially announced, the layoffs were condemned by many elected officials, including Tong, who also sent a related letter to M&T in August 2021.