PremierWest Bank on Monday said it will lay off some workers and not fill some empty jobs in order to cut costs. CEO Jim Ford said it’s too early to say how many workers will lose their jobs.
In January, the bank announced a plan to close 11 of its 44 branches. It subsequently said it would sell two of the branches to Pacific Crest Federal Credit Union.
Between the layoffs and the branch closures, the bank expects to save $4.4 million annually.
Parent company PremierWest Bancorp (NASDAQ: PRWT)…