Layoffs expected in RBC bank merger

January 6, 2012 5:22:23 PM PST
Hundreds of people are expected to be out of work once the RBC Bank merger goes through.

According to papers filed with the NC Department of Commerce, PNC Financial will layoff 425 employees in Rocky Mount and 196 in Raleigh.

The layoffs will come in March, after PNC officially acquires RBC.

That's the month Pittsburgh-based PNC expects to complete its $3.45 billion purchase of the U.S. retail operations and credit-card assets of the Royal Bank of Canada.

When it announced the purchase last June, PNC said the transaction would give it a total of 2,870 branches and make it the fifth largest U.S. bank.

RBC has offices all over Raleigh and a call center in Rocky Mount. There are about 1,500 employees total in both areas.

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