First Niagara Bank is planning to axe 150 to 200 employees in the managerial level across four US states it operates.
The latest job cuts will affect less than 3% of the bank’s overall employee base.
The bank said in a release that shrinking the management roles is part of its strategy to move decision-making closer to customers with the end goal to effectively cater to customer needs.
It did not divulge details on the precise number of jobs to be slashed, or how much savings it expects to procure through these job cuts.
However, the lender said that the cost savings achieved through this move will be reinvested into areas that will help improve customer experience.
On the other hand, the bank has also announced plans for hiring over 200 available positions across the company right now.
First Niagara operates with 410 branches and 5,900 employees in New York, Pennsylvania, Connecticut and Massachusetts.