Staff reduction discussions begin at RBC Bank

Posted January 4, 2012

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— Employees at RBC Bank began to get word Wednesday about which jobs and work groups will be eliminated when the sale of the bank to Pittsburgh-based PNC Financial Services Group (NYSE: PNC) is complete.

Fred Soloman, a PNC spokesman, said PNC staff began meeting with RBC workers in Rocky Mount and Raleigh Wednesday, although nothing will be final until the $3.45 billion purchase of RBC closes in March.

Soloman said there would be some consolidation, a reiteration of the message Chairman and Chief Executive Officer James Rohr brought when he visited Raleigh in June after the deal was announced.

“Some jobs will go away,” Rohr said about the 2,600 North Carolina RBC employees.

Neither man would get specific about the depth of the cuts.

“We need all customer-facing people,” Rohr said during his visit.

“There is no overlap between our operations in North Carolina. Secondly, we don’t have an operations center in that area, so we need the operations center in Rocky Mount,” he said at the time.

Soloman said RBC employees who are let go will get between four and 52 weeks' severance pay depending on the length of their tenure with the company. 

PNC does not plan to close any bank branches or the operations center in Rocky Mount, where 1,000 people work. But, Soloman said, there will be cuts both there and in Raleigh, where 500 people work for RBC. 


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  • quaten Jan 5, 2012

    "...Also, all of I.T. and Infrastructure here in RMT will be gone, which is another 200...">>WinnieFan

    IT is the typical low hanging fruit. 200 in one location is a bit excessive.

  • storchheim Jan 5, 2012

    "'s not big business's responsibility to look out for the little guy's interests. What makes you believe it should be?"

    jason19, how does the above statement translate to "you're for people losing their jobs"? Then you actually rebuke someone for pointing that out to you? How old are you, anyway?

    Business's goal is to make a profit, not care for you. It's always been that way, whether you like it or not.

    Better yet, why don't you start a business, risking YOUR money, and make sure you take care of all your "little guys", whether they have skills or not, show up on time, treat your customers well? Because otherwise, you're "for people losing their jobs".

  • WinnieFan Jan 5, 2012

    I'm in a dept of 90+ that got the axe today.

    Also, all of I.T. and Infrastructure here in RMT will be gone, which is another 200.

    Not consistent at all with what PNC communicated about keeping a "strong presence" in Rocky Mt. They say what they want to keep people at ease, and now that the time has come, it's a blood bath.

  • jason19 Jan 5, 2012

    "Why are companies this big allowed to buy one another out or even merge. All it does is create less competition and the buyer getting rid of people. Why were these cuts not necessary before the mergers?"

    They were not necessary before the merger because companies do need IT departments, marketing departments, accounting deparments, HR departments, etc. You just do not need *two* of these for a single company. Therefore, every merger inevitably leads to half of office people being fired, which is a true shame because these are the types of jobs that are the backbone of modern America. Mergers have probably killed off more jobs than the housing crisis ever had.

  • boneymaroney13 Jan 5, 2012

    Haaaaaaa, scot420 - be you socialist or conservative, I think you just busted someone's bubble.

  • Screw WrAl Jan 5, 2012

    Wait until staff reductions start with the schools!

  • scot30 Jan 5, 2012

    "...Already notice how FoodLion "house brand items" are not even being stocked anymore?...they can't even hold the price down any longer to justify competing with name brands...." - ElvisPresleyJr

    You have no clue what you're talking about. Food Lion brand products are going through a re-branding process and are being switched to the "My Essentials" name instead of the Food Lion name. There's been information alerting customers of this in ads and store signs for MONTHS now. They're using the same "My Essentials" brand in their Bloom and Bottom Dollar stores also. This saves the parent company money by not needing to have separate Bloom and Bottom Dollar house brand labels printed up for the different stores. Kroger and other stores have gone through re-branding processes of their house brands in the past also. Stores do stuff like that all the time, and I highly doubt it has anything to do with any "new world order".

  • jlp Jan 5, 2012

    So basically the republican logic is simple, Good things are caused by the GOP bad things by the Democrats. Got it.

    You people are unbelievable. Bev, Obama, Pelosi, Reid or whatever Democratic boggie man you guys want to cry about today have nothing to do with one company buying another company. It happens over and over regardless of who is in political control. It is just the invisible hand of the free market you guys love to bow down to.

    Only partisan hacks continually bring politics into non-political stories.

  • boneymaroney13 Jan 5, 2012

    Why are companies this big allowed to buy one another out or even merge. All it does is create less competition and the buyer getting rid of people. Why were these cuts not necessary before the mergers?

  • saltnsanddefenderofdamiddleclass Jan 5, 2012

    A. this should be a headline at the top of the page

    B. "Staff Reduction" mean "Layoffs?"

    C. just another day in obamaville. shrinking opportunity is ok. remember instead of working in a for profit business he promoted nonprofit work and volunteer work.

    D. guess they're working overtime to get Bev the new unemployment numbers in advance so the spinning can continue.