Regions Bank announces layoffs coming in 2016, 260 jobs to be eliminated

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Regions Bank

(WHNT) — Regions Bank announced layoffs coming down the pipeline for some of its employees Friday.

A company spokesperson said 260 positions will be eliminated in the first quarter of 2016. As a whole, the company employs 24,000 associates and we’re told the layoffs only affect 1% of its workforce.

“We are mindful of the impact of this decision and are offering career counseling assistance and severance to those affected by this transition,” the release said.

It’s still not clear which positions or which branches will be impacted. We’re told they’d come from a mixture of the company’s jobs and locations.

When asked which, if any, north Alabama banks/franchises will be affected, company spokesperson Evelyn Mitchell reiterated: “The reductions will come from a variety of positions and markets. We don’t have further details to release at this time, and we’ll share those details first with our associates.”

The company’s full statement is below.

As part of an effort to improve efficiency and restructure the company’s expense base, we made the difficult decision to eliminate 260 positions across our franchise during the first quarter of 2016. We are mindful of the impact of this decision and are offering career counseling assistance and severance to those affected by this transition. We will continue to review our business model and identify opportunities to operate more efficiently while maintaining high customer service standards. Regions’ commitment to supporting the communities where we operate, and to offering innovative banking solutions to meet the needs of today’s consumers, will not change. The reductions will come from a variety of positions and markets. We don’t have further details to release at this time, and we’ll share those details first with our associates.

Regions’ Employment Total & Company Size:
· Regions employs approximately 24,000 associates.
· The 260 positions represent just over one percent of the company’s workforce.
· Regions serves customers across the South, Midwest and Texas
· Regions Bank operates approximately 1,630 banking offices and 2,000 ATMs.

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