Location: Farmington Hills, Michigan, USA.
Based on news reporting.
Fifth Third Bancorp has announced the layoff of 502 employees as part of a restructuring plan that includes the closure of 75 branches. This decision comes in response to recent state records that revealed the extent of the workforce reduction. The layoffs are part of the bank's efforts to streamline operations and adapt to changing market conditions. While the specific locations affected by the layoffs have not been disclosed, the move indicates significant changes within the company's operational strategy. The layoffs are expected to impact various roles as the bank seeks to enhance efficiency and reduce costs.
Fifth Third Bancorp cut 502 jobs as of October 1, 2023.
That is roughly 2.7% of the 18,579 people Fifth Third Bancorp employs.
LayoffTalk has tracked 6 layoff events at Fifth Third Bancorp since October 2023, affecting a combined 1,304 employees.
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