Fifth Third Bank to lay off undisclosed number of employees

Published: Friday, June 22, 2018 @ 9:38 AM

In 2016, Fifth Third Bank had nearly 50 branches and 700 employees in the Dayton area. The stadium where the Dayton Dragons play is also named for the bank. THOMAS GNAU/STAFF
In 2016, Fifth Third Bank had nearly 50 branches and 700 employees in the Dayton area. The stadium where the Dayton Dragons play is also named for the bank. THOMAS GNAU/STAFF

Fifth Third Bancorp is cutting jobs in the region, bank officials are telling the media.

The company is not discussing the number of employee layoffs or how many are happening in the Dayton area.

No notice of layoffs appeared on the state’s “WARN” (Worker Adjustment and Retraining Notice Act) notice board as of early Friday. Typically, larger companies that lay off 50 or more employees within 30 days are required by law file a WARN notice with the state’s Department of Job and Family Services.

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A Fifth Third spokesman said Friday the bank needs to make “adjustments when there is not a good match-up between staffing, market demand and the operating environment.”

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“Fifth Third has long had an approach of managing staff carefully and making ongoing adjustments,” Fifth Third spokesman Larry Magnesen said in an email. “That has helped avoid large, broad-based reductions.”

The Cincinnati-based company is still hiring for certain critical skills, and has about 1,122 open positions. More than 500 of those openings are posted on our a Fifth Third recruiting web site.

“It’s worth noting that the bank’s total employment in greater Cincinnati of about 7,500 employees is up by 800 over the last five years or so (since year-end 2013),” Magnesen said.

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He added: “Clearly, staffing adjustments increase efficiency. That is a priority of the bank in order to invest in the capabilities in terms of expertise and technology to address our customers’ evolving needs.”

Fifth Third met its goal of closing some 105 branches by June 2016, Greg Carmichael, the bank’s president and chief executive, told this news outlet in August 2016.

At the time, the bank had 47 branches and about 700 employees in the Dayton market.

Fifth Third’s board elected Carmichael, a University of Dayton graduate, its chairman early in 2018.

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