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TheDay.com - Citizens lays off 250 in U.S. | Southeastern Connecticut News, Sports, Weather and Video | The Day newspaper

Citizens lays off 250 in U.S.

Published 11/19/2011 12:00 AM
Updated 11/18/2011 11:46 PM

Citizens Financial Group has laid off 250 of its 21,000 employees across 12 states, the company has confirmed.

Citizens is headquartered in Rhode Island and has offices in Connecticut and Rhode Island and 10 other states, said Chris Riley, a bank spokesman.

Riley said he could not provide layoff numbers by state.

In a statement, the bank attributed the layoffs to the rough economic climate and new controls on spending that it had recently implemented.

"The economic climate has required us to make some difficult but necessary decisions related to our organizational structure," the bank stated. "Colleagues who have been impacted have been given priority status for open positions in other parts of the bank."

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