Monday, August 27, 2012

BB&T laying off 365 post-acquisition in Florida

BB&T will lay off 365 workers in south Florida after buying BankAtlantic, the Winston-Salem bank told Florida officials.

About 120 employees have already been told they will be laid off. Another 245 are expected to be fired, according to a letter sent to the Florida Department of Economic Opportunity. Layoffs are expected to begin Oct. 1 and last through January.

Most of them worked at BankAtlantic headquarters, the South Florida Sun Sentinel reported.

BB&T got the OK to buy the bank in a $300 million deal in late July. It adds 78 branches, about $2.1 billion in loans and $3.3 billion in deposits, making BB&T the sixth-largest in the south Florida market. It had been 14th.