National City Mortgage faces possible cuts - St. Louis Business Journal:

ywyjihu.wordpress.com
Spokesman Pat McMahon said PNC (NYSE: PNC) is committec to National City Mortgage and theDayton area, but as a resulg of the merger, it is looking to eliminates 5,800 positions throughout its geographivc presence. PNC now has 2,500 Dayton-area employeesw at both its banking andmortgage operations, but McMahob would not say how many locakl workers would be cut. “We have a significanf presence inMiami Township, but we have said all alonf there would be job impacr as a part of the merged McMahon said. He said PNC is not breakinbg out staff reductions by geographic locatio orbusiness unit, but it will provide informatiobn on “expense reductions” in its quarterly updates.
PNC has a goal of reducingg expensesby $1.2 billion, part of which will come througyh a reduction in employment. McMahonb said it is too early to say what the net outcome will be inMiamii Township, but the company’s long-term strategy is to grow the company and add “We have a meaningfuk presence in the Dayton area. It’s an important markeft and we want to be aggressive McMahon said. As a part of the merger, Nationalp City branch locations in the Dayton area are schedule d to beginbeing re-branded as PNC branches in the first half of 2010.