PNC offers buyout to 760 employees
Article Abstract:
PNC Bank Corp. is offering an early-retirement plan to around 760 employees, or around 3% of its 25,000 workforce, in order to increase efficiency and reduce costs. The plan is presented to employees not younger than 53 years old with at least 10 years experience. As an incentive, the bank will add two years of service and another two years to the employees' age to increase their pensions. Deadline for accepting the offer is on Feb. 28, 1998, and the retirements effective March 1, 1998. A company spokesman said that while no goal for the number of retirements has been set, the possibility of layoffs after the offer still remains.
Comment:
Is offering an early-retirement plan to around 760 employees in order to increase efficiency and cut costs
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Small banks form surcharge-free ATM alliance
Article Abstract:
Freedom ATM Alliance is aimed at helping clients avert so-called surcharges, or fees imposed by banks for using their automated teller machines, that was formed by almost 24 banks and thrifts in Pittsburgh, PA. The surcharge is the extra fee at an average of $1 that most banks charge customers of rivals and comes on top of any fee a customer's home bank may charge. The members agreed not to levy surcharges on each other's customers, with partaking banks deciding on their own whether to assess the fees on customers outside the network.
Comment:
PA: Freedom ATM Alliance is aimed at helping clients avert surcharges that was formed by almost 24 banks & thrifts in Pittsburgh
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Mellon ends free service for seniors
Article Abstract:
Mellon Bank has decided to do away with the free checking accounts the firm previously offered to senior citizens effective June 12, 1998. The move by Mellon leaves National City Bank as the lone bank in the Pittsburg, PA, to offer free checking accounts for seniors. Mellon spokesman, Ron Gruendl, stated that the bank decided to eliminate the free accounts due to the increasing maintenance costs. The bank now requires all its customers to sustain a minimum balance to keep away from monthly service charges.
Comment:
Decides to do away with free checking accounts it previously offered to senior citizens effective 6/12/98
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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