Santander to Lay Off Nearly 200 in RI Next Month
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Santander to Lay Off Nearly 200 in RI Next Month
According to the RI Department of Labor, Santander filed a Worker Adjustment and Retraining Notification (WARN) notice that it would be laying off 198 employees in East Providence effective April 8, 2022.
The layoffs by Santander are global.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“What’s behind banking giant’s job cuts?” reported mortgage industry publication MPA in March. “It has discontinued its home originations segment.”
“We have discontinued residential mortgage and home equity originations as we continue to focus on investing in products that have scale and that leverage our core strengths,” company spokesperson Nancy E. Orlando told MPA in response to questions. “This move will allow us to unlock capital to fuel our growth. We remain committed to our clients, small businesses and the communities we serve and are ensuring that our current clients and those in our pipeline are not impacted.”
MPA previously reported that Santander Holdings USA, Inc. – a subsidiary of Madrid, Spain-based Banco Santander – notified state officials in Philadelphia of its plans to lay off 53 of its employees by April 08. The layoffs are expected to be permanent, according to the notice filed in compliance with the Worker Adjustment and Retraining Act (WARN) filed with Philadelphia Department of Labor and Industry.
In Rhode Island, the latest large-scale layoffs notified to the state occurred in May 2021.
In 2020, as the coronavirus pandemic hit, over twenty Rhode Island businesses filed advance layoff notices with the RI DLT.
About WARN
The RI DLT posts the following:
The WARN Act is a federal law requiring employers of 100 or more full-time workers to give 60-days advance notice of a plant closing or mass layoff.
This federal law applies to employers in the State of Rhode Island.
Employers with 100 or more full-time workers are affected if they:
* Close a facility or discontinue an operating unit with 50 or more workers
* If they lay off 50-499 workers (and these workers comprise at least 33% of the total workforce at a single site of employment)
* If they lay off 500 or more workers at a single site of employment
The law requires that this notification be given to the appropriate local chief elected official, the Dislocated Worker Unit of the State Department of Labor, and the collective bargaining representative of affected employees or each employee if the employees do not have such representation.