BIRMINGHAM, Ala. (AP) — Regions Bank officials say the company is planning to eliminate 260 positions in the first quarter of 2016.
Officials said in a statement Friday that the move is "part of an effort to improve efficiency and restructure the company's expense base." Company officials say the bank will continue examining its business model to maximize efficiency while maintaining quality customer service.
Regions officials say they're offering career counseling assistance and severance to affected employees. Additional details on which positions are being eliminated and in which markets the cuts will be made wasn't immediately available.
Officials say the bank employs about 24,000 people and the cuts represent just more than 1 percent of its workforce.
Regions Bank, headquartered in Birmingham, Alabama, operates more than 1,600 banks and 2,000 ATMs.