Two major northeastern banks have begun intense reviews of their cost structures, and both efforts will probably lead to layoffs, the banks said.

Meridian Bancorp, Reading, Pa., has begun a cost-cutting analysis that will affect every employee, according to Ezekial "Zeke" Ketchum, president and chief operating officer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.