Anonymous ID: 7cac48 March 15, 2019, 8:41 a.m. No.5700569   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun

Fifth Third laying off 30 at Greater Cincinnati location

(they have awarded themselves many options and have sold some of them into open mkt.

attached link is to SEC form 4. Open and look towards bottom to see what they give themselves.)

 

Fifth Third Bancorp is laying off 30 employees at a Greater Cincinnati office in the wake of a recent acquisition.

 

Fifth Third (Nasdaq: FITB) is terminating 30 of 100 employees at MB Financial in Wilmington (Clinton County), according to a Worker Adjustment and Retraining Notification. The notice, written by Robert Shaffer, chief human resources officer, was sent to the Ohio Department of Job and Family Services on March 12 and indicated the action was due to Fifth Third's recent acquisition of MB Financial.

 

The Wilmington office is MB Financial's only location in Southwest Ohio.

 

Employee separations at the mortgage loan servicing facility are expected to begin May 13 and be completed by July 31. Employees have no โ€œbumpingโ€ rights and separations are expected to be permanent. Those employees will receive severance and outplacement benefits.

 

Another 15 employees at MB Financial will be offered positions at Fifth Third's Madisonville Operations Center, said Larry Magnesen, senior vice president. About 60 employees will be retained at the Wilmington office, he said.

 

https://www.bizjournals.com/cincinnati/news/2019/03/15/fifth-third-laying-off-30-at-greater-cincinnati.html

https://www.secform4.com/insider-trading/35527.htm