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United Community Bank announces layoffs

POSTED: March 16, 2009 4:12 p.m.
United Community Bank has become the latest bank to announced layoffs due to the economy.

Mike Infante, a bank spokesman in Blairsville, said United Community reduced its work force company-wide, including at the corporate level. He declined to say how many employees were let go. The workers were told of the layoffs last week.

He said a variety of positions were included in the layoffs.

The employees were offered a severance packaged based on their time of service. In addition, the bank will continue to pay a portion of their health insurance not covered by the recently enacted federal stimulus package.
Layoffs are not new to the banking industry, which has born the brunt of the current economic climate.

"We've seen several banks that have announced job cuts," said David Oliver of the Georgia Bankers Association. "Banks are a reflection of the economy and their local marketplace. When times are going well and there is a lot of business being done, banks need employees to staff and service that business. When time are tough, like they are right now, it hurts the banks and correspondingly hurts employment at banks."




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