The parent company of Zions Bank will be laying off about 5% of its workforce, the company announced Tuesday.
The “near-term workforce reduction” at Zions Bancorporation was announced during an earnings call to investors, as “an acceleration of or drive toward improving operating efficiency,” said Harris Simmons, the company’s chairman and CEO.
Zions Bancorporation, a financial holding company based in Salt Lake City, employs approximately 10,000 people in 11 Western states. That means some 500 people will lose their jobs.
About 30% of the layoffs would be employees who deal directly with the public, while the remaining 60% would be in enterprise activities and behind the scenes.