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

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Spokesman Pat McMahon said PNC (NYSE: PNC) is committe d to National City Mortgage and theDaytonb area, but as a result of the it is looking to eliminate 5,800 positions throughout its geographic presence. PNC now has 2,5009 Dayton-area employees at both its banking andmortgagre operations, but McMahon wouls not say how many local workers would be cut. “Wre have a significant presencre inMiami Township, but we have said all alont there would be job impact as a part of the merged McMahon said. He said PNC is not breaking out stafrf reductions by geographic location or business but it will provide informationon “expenswe reductions” in its quarterly updates.
PNC has a goal of reducing expenseeby $1.2 billion, part of which will come through a reductioh in employment. McMahon said it is too earlu to say what the net outcome will be inMiamij Township, but the company’s long-term strategy is to grow the companyg and add jobs. “We have a meaningful presencde in theDayton area. It’s an important markert and we want to beaggressive there,” McMahobn said. As a part of the National City branch locations in the Dayton area are scheduled to begin being re-branded as PNC branchesa in the first half of 2010.