M&T Bank is transitioning to a new staffing model at its branches in the tristate area in which all workers ”“ regardless of position ”“ can help customers with their financial needs.
Because the transition involves making changes to jobs and staffing levels and could result in workers leaving, the bank filed a notice with the New York State Department of Labor saying 95 employees would be dislocated as a result of “restructure of the New York Metro market.” The notice said the employees are at branches in Westchester, Rockland, Suffolk, Hempstead and New York City.
David Samberg, a spokesman for M&T Bank, told the Business Journal that the bank was not planning a mass layoff.
“We expect the majority of employees in those roles to remain with M&T either in the branch or some other role at the bank. The transition should be a three-month process. If any employee decides they do not want to stay with the changes, or at the end of the three months are not able to find a role that fits them, they will receive a package and career placement support,” Samberg said.
Samberg pointed out that the new model is increasingly common in the banking industry these days and it allows for more efficient service to customers.
“While community branches remain important to customers, how customers use the branches has rapidly changed. More customers are using online and mobile banking for traditional banking transactions,” Samberg said. “So, while they may come into branches less often, when they do come in, they more often rely on employees to assist with more complex transactions and investments. With a universal banking model, all employees within M&T branches can serve customers with any need.”
The notice to the Labor Department said that in the Mid-Hudson region 46 employees would be affected. The M&T branches included Mohegan Lake, White Plains, Elmsford, Harrison, Larchmont, Mamaroneck, Mount Kisco, North Salem, Ossining, Peekskill, Rye Brook, Baldwin Place, Chestnut Ridge, Monsey, Nyack and Piermont.
Samberg emphasized there are no branches closing and the bank wants to keep as many people as possible.
“A lot of the branches within the tristate area were already doing this,” Samberg said. He said that in looking at the way technology now is being used in banking, M&T determined, “This is a successful model. We”™re just going to roll it out for the remaining branches.”
“Some people may say…the package is good, I”™m ready to move on, to do something else and they”™re going to do it, they have that opportunity,” he said. “Other employees will have the ability to say, ”˜Well I don”™t want to stay in a branch, it”™s really not my expertise anymore, but I do want to go someplace else.”™ Absolutely, we”™re making sure they get connected with the right people to stay within the bank.”
“If you come in and you choose not to use technology and you choose to do the more traditional transactions in the branch the folks in there can help you with that,” he said. “But everyone in that branch is going to be trained and have the skills to help you with more complex things as well; more complex investments, mortgages, small business, anything like that.”
In an annual report filed with the Securities and Exchange Commission last year, M&T Bank Corp. reported having 750 domestic banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia and an office in Ontario, Canada, as well as the Cayman Islands. It reported having 17,267 employees.
