PNC Officials Unveil Plans for Workforce Reductions

PNC officials have recently announced layoffs at the company. While the specific number of layoffs has not been disclosed, it is believed to be a significant reduction in workforce. The decision comes as PNC seeks to streamline operations amid the ongoing challenges posed by the COVID-19 pandemic. The layoffs are part of a broader cost-cutting effort aimed at improving efficiency and ensuring long-term sustainability. PNC, like many other banks, has been grappling with declining revenues and the need to adapt to a rapidly evolving digital landscape. The impact of the layoffs on employees and the company’s future remains to be seen..

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BREAKING NEWS THIS AFTERNOON. WE ARE LEARNING FROM PNC BANK OFFICIALS THAT SOME CHANGES ARE COMING TO THE COMPANY AND IT’S GOING TO MEAN SOME LAYOFFS. IN A STATEMENT, PNC SAYS, QUOTE, AS PART OF OUR STRONG FOCUS ON EXPENSE MANAGEMENT, WE REVIEWED OUR ORGANIZATIONAL STRUCTURE AND IDENTIFIED AN OPPORTUNITY TO BETTER POSITION OUR COMPANY FOR LONG TERM SUCCESS. THIS INCLUDES A SHIFT AWAY FROM WORK NOT FULLY ALIGNED TO OUR STRATEGIC PRIORITIES AND WILL RESULT IN A REDUCTION IN STAFFING LEVELS IN CERTAIN AREAS. END QUOTE. NOW PITTSBURGH’S ACTION NEWS 4 HAS REACHED OUT TO THE BANK AND ASKED ABOU

Layoffs looming at PNC, with exact number of positions impacted uncertain

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PNC Bank is looking to lay off a portion of its staff, officials said Tuesday.A spokesperson for PNC provided Pittsburgh’s Action News 4 with this statement: “As part of our strong focus on expense management, we have reviewed our organizational structure and have identified an opportunity to better position our company for long-term success. This includes a shift away from work not fully aligned to our strategic priorities and will result in a reduction in staffing levels in certain areas. While these decisions are never easy, we believe these measures will help us more effectively and efficiently deliver for our customers and stakeholders, now and going forward.”The spokesperson did not indicate how many people would be affected by these layoffs. When asked, she said a rumor circulating on social media that there would be a 10% reduction in staffing was inaccurate. However, the spokesperson declined to say in a follow-up question exactly how many people would be laid off.According to the Pennsylvania Department of Labor Industry, PNC ranks as the 14th largest employer in the commonwealth. In Allegheny County, it ranks seventh. PNC was not clear about if jobs in our region or in Pennsylvania were going to be cut. We are looking to learn more about this, which positions might be impacted and when layoffs might occur. This is a developing story. Stay with Pittsburgh’s Action News 4 for updates. Download the WTAE mobile app to stay connected with breaking news.

PNC Bank is looking to lay off a portion of its staff, officials said Tuesday.

A spokesperson for PNC provided Pittsburgh’s Action News 4 with this statement:

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“As part of our strong focus on expense management, we have reviewed our organizational structure and have identified an opportunity to better position our company for long-term success. This includes a shift away from work not fully aligned to our strategic priorities and will result in a reduction in staffing levels in certain areas. While these decisions are never easy, we believe these measures will help us more effectively and efficiently deliver for our customers and stakeholders, now and going forward.”

The spokesperson did not indicate how many people would be affected by these layoffs. When asked, she said a rumor circulating on social media that there would be a 10% reduction in staffing was inaccurate. However, the spokesperson declined to say in a follow-up question exactly how many people would be laid off.

According to the Pennsylvania Department of Labor Industry, PNC ranks as the 14th largest employer in the commonwealth. In Allegheny County, it ranks seventh. PNC was not clear about if jobs in our region or in Pennsylvania were going to be cut.

We are looking to learn more about this, which positions might be impacted and when layoffs might occur.

This is a developing story. Stay with Pittsburgh’s Action News 4 for updates. Download the WTAE mobile app to stay connected with breaking news.

PNC Bank has announced plans for layoffs as part of their focus on expense management. The bank states that they have reviewed their organizational structure and identified the need to better position the company for long-term success, resulting in a reduction of staffing levels in certain areas. The exact number of layoffs has not been revealed, but a rumor of a 10% reduction is said to be inaccurate. PNC Bank is currently the 14th largest employer in Pennsylvania and the 7th largest in Allegheny County. Further details about the layoffs and positions impacted are yet to be disclosed.

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