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Investors Bank Announces Workforce Reduction and Branch Closures

Dec. 08, 2017 12:46 PM ETCitizens Financial Group, Inc. (CFG) StockBy: Gaurav Batavia, SA News Editor
  • Investors Bancorp (ISBC) plans to reduce operating expenses by reducing workforce by ~5% by the year end and closing of six branch offices by the first week of March 2018.
  • The company estimates $12M - $14M reduction in annual operating expenses and expects to recognize non-recurring pre-tax expenses of ~$5M in 4Q17.
  • Press Release

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