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Spokesman Pat McMahon said PNC (NYSE: PNC) is committedf to National City Mortgage and theDaytonh area, but as a result of the merger, it is looking to eliminate 5,800 positionsz throughout its geographic presence. PNC now has 2,5090 Dayton-area employees at both its banking and mortgage but McMahon would not say how many localo workers wouldbe cut. “We have a significan t presence inMiami Township, but we have said all alongb there would be job impact as a part of the mergedr companies,” McMahon said. He said PNC is not breaking out staft reductions by geographic location or business but it will provide informationon “expense in its quarterly updates.
PNC has a goal of reducingy expensesby $1.2 billion, part of which will come throughj a reduction in employment. McMahonb said it is too early to say what the net outcomed will be in Miami butthe company’s long-term strategh is to grow the company and add jobs. “W have a meaningful presence in theDaytonn area. It’s an important market and we want to be aggressive McMahon said. As a part of the merger, Nationalk City branch locations in the Dayton area are schedulede to beginbeing re-branded as PNC branchesx in the first half of 2010.
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