M&T Bank Commits to Connecticut Jobs in Response to Attorney General Tong Letter(Hartford, CT) – In a written response to Attorney General William Tong’s August 2 letter, M&T Bank made a commitment to Connecticut jobs and to Bridgeport as its New England regional headquarters.
Attorney General Tong had written 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 shocked many when it provided notice to the Connecticut Department of Labor that it anticipated 747 layoffs of Connecticut employees should regulators approve the proposed merger with People’s Bank.
“M&T Bank is making a significant public commitment to Connecticut jobs, and to the City of Bridgeport in this letter. This is an important step forward after weeks of mixed messages and confusion. I appreciate the commitments made by M&T Bank to Bridgeport and to Connecticut in this letter, but my work is not done. I will be watching their actions closely to ensure local jobs are protected and Connecticut communities remain a priority,” said Attorney General Tong. “I look forward to continued discussions with M&T and other stakeholders, including the City of Bridgeport.
Attorney General Tong’s August 2 letter sought comprehensive written responses to a series of questions regarding job retention, mitigation of adverse economic impacts, and corporate responsibility obligations, in addition to a meeting with bank leadership. That meeting took place on August 4, and was attended by leaders from People’s United Bank, M&T Bank, representatives of the Office of the Attorney General and state and local officials.