News : Citizens Bank to Lay Off 125
June 2, 2014 -- Providence-based Citizens Financial Group Inc. will lay off 125 workers in Bridgeport, a notice filed with the state Department of Labor shows.
The layoffs, which will take place between Aug. 1 and Oct. 24, will affect employees at 1000 Lafayette Blvd and are part of cost-cutting measures, said Lauren DiGeronimo, a bank spokeswoman.
DiGeronimo would not identify the business affected. But Citizens parent Royal Bank of Scotland had maintained a credit card operation in Bridgeport ever since buying the business from People's United Bank — then People's Bank — in 2004.
"As part of an effort to manage costs and improve efficiency, we are eliminating some positions in our Bridgeport office," DiGeronimo said in an e-mail.
The positions eliminated include contact center specialists, operations analysts and customer service associates.
"We are working closely with impacted colleagues to provide severance benefits and outplacement and career assistance," DiGeronimo said. "Eligible colleagues also will be given priority consideration for open positions."
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About Citizens Financial Group:
Citizens Financial Group, Inc. is a British-owned American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont. Citizens is a wholly owned subsidiary of The Royal Bank of Scotland Group (RBS), whose headquarters are in Edinburgh, Scotland. Following the financial rescue of RBS, the company's controlling shareholder is currently the British government. As of 2011, Citizens was the 15th-largest bank in the United States.
Published: Tuesday, June 3, 2014