JASON BROWNE
Cadence Bank could layoff as many as nine employees from its 11 Golden Triangle branches, a company spokesman said today.
Senior Vice President of Marketing John Boydstun said the Starkville-based bank is currently conducting productivity and efficiency studies aimed at reorganizing multiple aspects of company operations, including employees. The majority of the impact to employees will be restructuring job duties, but, “some employees will lose their jobs.”
“We don’t know specifically at which locations because we’re not at the point of finishing all reviews. In the Golden Triangle it could be somewhere around nine (employees),” said Boydstun.
He says Cadence managers and human resources officials will determine how many employees to lay off and when after the study has concluded. At that time the company will communicate to employees whether their jobs have been restructured or eliminated.
Boydstun says this is the first time in years Cadence has conducted an efficiency study on this scale. He declined to speculate how many total Cadence employees would be dismissed, or if those jobs would return.
“This is just part of dealing with the economic conditions that all businesses have been operating under in the last 18 months,” said Boydstun. “It’s always unfortunate if anyone loses their job in any business. We have to examine our business and see if there is duplication of areas and get things in the right perspective for our shareholders.”
Read complete article at Commercial Dispatch.
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