The bank based in Massachusetts plans to lay off 125 employees this year, as stated in a recent filing with the state.
According to Rockland Trust Company, notifications in line with worker adjustment and retraining laws indicate that these layoffs will occur at three locations in Lowell between July 1 and December 31.
This news comes five months after Rockland Trust announced its plans to merge with Lowell’s Enterprise Bancorp, Inc., which will allow Rockland Trust to acquire the bank.
In a previous statement, Rockland had asserted its commitment to maintaining a significant presence in Lowell and clarified that the Enterprise Bank branch would remain open.
At the time of the merger announcement in December, Enterprise Bank operated 27 branches across Massachusetts and New Hampshire.
Companies are required to issue advance notices when they exceed specific employee count thresholds.
Founded in 1907 in Rockland, Rockland Trust has expanded to over 120 branches throughout Massachusetts, as noted on its website.
