Investors Bancorp to cut workforce by 5%, close 6 branches
Investors Bancorp Inc. (ISBC) said late Thursday it was laying off about 5% of its workers and closing six of its branch offices. The Short Hills, N.J.-based bank has 155 branches and reported having 1,829 employees at the end of 2016. Investors Bancorp said the cuts will reduce annual operating expenses by about $10 million to $12 million. Shares of Investors Bancorp were flat at $14.17 after hours.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 07, 2017 18:12 ET (23:12 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.