Hartford, CT – Attorney General William Tong wrote to leadership of M&T Bank and People’s United Bank seeking detailed information regarding efforts to mitigate job losses and adverse economic impacts to Connecticut workers and communities. Last month, M&T provided notice to the Connecticut Department of Labor that it anticipates 747 layoffs of Connecticut employees should regulators approve the proposed merger with People’s Bank, contradicting assurances made to the Attorney General, community leaders, and bank employees. “In the wake of your announcement, several local, state, and federal elected officials along with various community members have expressed understandable alarm and consternation over the staggering job losses and overall adverse economic impacts to the City of Bridgeport and the State of Connecticut that…
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