PNC Financial Services is cutting between 325 and 425 jobs from the ranks of Sterling Financial Corp., most of them accounting-related. PNC, which acquired East Petersburg, Pa.-based Sterling less than two weeks ago, said most of the positions duplicate work already done by existing PNC employees. Sterling owns a number of banks in Pennsylvania, Maryland and Delaware. PNC purchased Sterling in the wake of a $200 million fraud scheme committed at a former Sterling unit.
PNC will cut up to 425 jobs at Sterling [Lancaster Online]
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