BankAtlantic Lays Off Dozens Of Employees
FORT LAUDERDALE (CBS4) - South Florida financial staple BankAtlantic announced Friday it laid off 75 workers, or 6 percent of it's workforce, the South Florida Sun-Sentinel is reporting.
Fifty people affected by the layoffs were at the corporate level, with the remaining jobs taken from bank branches, according to Jarett Levan, President of BankAtlantic.
"As the Florida economy goes, so does BankAtlantic,'' Levan said. "But our deposit growth has continued to be very strong. We made sure it wouldn't have an impact on customer service."
This is the second time the company has laid off workers this year. One hundred employees were let go this summer.
Levan says the laid off employees were offered severance packages based on employment level and years of service. Also, all will be offered outplacement services to help them find new jobs.
The downsizing comes as the bank reported losses in 13 consecutive quarters, mostly due to bad real estate loans.
Operations will remain the same at the Fort Lauderdale-based bank's 100 locations statewide.
Source: The South Florida Sun-Sentinel
