PNC Financial Services Group Inc. is set to begin eliminating jobs in Maryland as part of its plan to cut costs after buying Mercantile Bankshares Corp. of Baltimore.
The Pittsburgh Tribune-Review and The Capital in Annapolis, Md., reported late last week that PNC planned to cut "several hundred" workers, including some in back-office operations and corporate support and administration.
A PNC spokesman confirmed the number Friday, explaining that he could not be more exact because some employees may retire, while some others could relocate.
The company had said when it announced the $6 billion Mercantile deal in October that it planned to cut operating expenses by $100 million.
