Staff reduction discussions begin at RBC Bank
Posted January 4, 2012
Raleigh, N.C. — 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.