PNC Financial Services Group acknowledged some of its employees are being laid off, including some in its Miami Twp. mortgage office, but the company is not saying how many employees are affected.
“We continuously adjust our staffing to meet the cyclical demands of our business,” Marcey Zwiebel, a PNC spokeswoman, said in an email to the Dayton Daily News. “Currently, PNC is responding to industry trends and lower refinance volume by reducing some mortgage (office) positions. We are not providing additional details, including numbers, at this time.”
A PNC memo to affected employees dated Wednesday advises those employees to take the rest of the day off after they received the news.
The memo, obtained by the Dayton Daily News, says PNC’s employee displacement plan includes pay through Dec. 6, as well as displacement benefits “for a number of weeks” after separation from the company. A recruiting team will help affected employees with a “job search at PNC,” the document says.
The bank is offering medical benefits through COBRA, or federal Consolidated Omnibus Budget Reconciliation Act health insurance, with PNC paying 65 percent of COBRA premiums, the memo says.
“We understand that today’s news may come as a surprise to you — but we want you to know that we have resources available to assist you during this transition,” the memo on PNC letterhead says.
There was no indication of local layoffs on the Ohio Department of Job and Family Services WARN (Worker Adjustment and Retraining Notice) board Thursday afternoon. Companies of a certain size are expected to report to Ohio government layoffs of more than 50 employees in a 30-day period.
Pittsburgh-based PNC bought National City Corp., then Ohio’s largest bank, in 2008 for $5.6 billion, as the latter bank was pummelled by the recession.
The PNC name was attached to the local mortgage office by 2009.
After the 2008 acquisition, PNC told Ohio it planned to cut 74 positions from the Miami Twp. mortgage office, but it planned to keep the office open.