WSFS plans 71 layoffs in Pennsylvania after Beneficial merger


Wilmington-based WSFS has filed a layoff notice for 71 workers of the former Beneficial Bank.

WSFS filed a WARN notice with the Commonwealth of Pennsylvania this month, after completing a merger with Philadelphia-based Beneficial Bank.

The notice indicated 71 employees would be affected by the notice that is listed as a layoff and will become effective on Aug. 30. No WARN notices were filed with the Delaware Department of Labor.

Companies laying off 50 or more employees are required to file the notice.

WSFS plans to close about 25 percent of the offices of the combined company and eliminate some duplicate positions. The company’s strategy was outlined prior to the merger’s completion earlier this year.

Attrition and employees moving to other branches are expected to lead no staff reduction in the branch system. The company has also seen staff move to jobs at other financial services companies.

The Beneficial branches will switch over to the WSFS brand later this year.

A portion of the savings will be used to fund a technology upgrade that reflects the growing demand for online access to a wide variety of financial services.

WSFS will offer jobs to staff affected by branch consolidation

Facebook Comments