BREAKING NEWS
PNC set to close hundreds of branches, slash jobs
Company blames regulations, economy for cuts
PNC Bank
Photographer: Ron Fischer
Copyright 2011 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 03/07/2013
CINCINNATI - PNC customers take note, hundreds of the financial giant’s retail branches are about to close.
Officials with the PNC Financial Services Group confirmed to 9 On Your Side that it plans to close 200 retail branches to cut expenses by $700 million.
The company said it was too early to tell how many Cincinnati-area branches and jobs will be cut.
PNC has about 2,900 branches in 19 states.
Company officials said the move is prompted by a sluggish economy, the cost of new regulations and thin profit margins from lending because of the low interest-rate economy.
PNC has at least 30 locations in the Cincinnati area.
Copyright 2013 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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