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M&T Bank has made an undisclosed number of layoffs in its workforce. M&T declined to say how many jobs it has cut or how many were in Western New York. “As part of our ongoing efforts to align our organizational structure with our long-term strategy, we have made adjustments to staffing affecting a small number of roles,” the bank said in a statement. “We are committed to supporting our impacted colleagues while continuing to deliver exceptional service to our customers and communities.” Buffalo-based M&T is continuing to hire for other positions. The bank on its website on Friday listed 583 job openings across its multistate operations. M&T remains a major private employer in the region, with concentrations of workers at its headquarters, Seneca One tower and Lafayette Court. As of June 30, M&T had 22,590 full-time equivalent employees, a figure virtually unchanged from a year earlier. Its employment total has grown significantly since 2022, when M&T completed its acquisition of People’s United Bank, a deal which expanded M&T’s presence throughout the Northeast. M&T’s profits have increased recently. The bank in the second quarter reported profits of $716 million, or $4.24 per share, compared to $655 million, or $3.73 per share, a year earlier. M&T is scheduled to announce its third quarter results on Oct. 16. Earlier this year, NBT Bank’s acquisition of Amherst-based Evans Bank led to the layoff of 52 Evans employees. Half of those affected workers had other jobs lined up at the time of the transition in May. The Buffalo Niagara region’s finance and insurance employment in August was 26,700, down from 27,000 in July, according to the state Department of Labor. Employment in that sector has fluctuated this year, but is down about 9% from March 2020, just before the pandemic hit the economy. Layoffs have impacted some other employers recently, including Mercantile Adjustment Bureau, an Amherst-based debt collection firm that closed its doors in late August. Sumitomo is preparing to lay off 36 workers who have been helping to wind down operations at its shuttered tire plant in the Town of Tonawanda. On the flip side, Sumitomo is preparing to open a technical center in Getzville with 40 employees. The Buffalo Niagara region lost 400 jobs in August from July, according to state labor data.
