PNC Financial Services Group Inc. PNC, +1.12% is reducing its staffing levels but it has yet to provide a specific number of people to be affected by the action, according to reports.
The Pittsburgh-based lender with about 60,000 employees said in a statement reported by at least two news outlets that it’s reviewing its organizational structure including a shift away from work not fully aligned to its strategic priorities. The moves will include staff level reductions. A spokesperson from the bank did not immediately reply to an email from MarketWatch. PNC’s stock was up 1.4% in recent trading.
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