Rockland Trust lays off 125 Enterprise Bank staff in Lowell

Rockland Trust lays off 125 Enterprise Bank staff in Lowell

Rockland Trust, which acquired Lowell-based Enterprise Bank & Trust in a blockbuster December deal, announced that it was laying off 125 employees at three Lowell locations starting July 1. “The recently filed state WARN notice reflects that up to 125 positions, primarily within overlapping operational functions, may be affected as part of our planned merger with Enterprise Bank,” Chief Human Resources Officer Maria Harris said by email May 19. …

Rockland Trust Will Lay Off 125 at Enterprise Bank If Merger Goes Ahead

Rockland Trust told investors it expects to find cuts equivalent to 30 percent of Enterprise Bank's operating costs, but won't close branches.