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First Niagara Financial Group(FNFG) is laying off employees after acquiring
NewAlliance Bancshares(NAL) for $1.5 billion in August 2010.
The bank said it is letting go 230 people in Connecticut between April 15 of this year and January 2012. Employees were notified of layoffs earlier this month. The bank also filed papers with state that may result in layoffs of 126 people in New Haven and 93 people in Manchester.
While First Niagara does not plan to close any offices due to the merger, it is eliminating duplicate backroom positions, according to
The Buffalo News. . The bank is also supposedly going to add back 180 branch jobs.
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