M&T Bank layoffs, on the record

Headcount, as reported

Job cuts, severance and restructuring

1. Our summarySeverance expenses were one of the employee benefit costs that drove higher salaries and employee benefits expense in 2023. in 2023

   Word for word“Salaries and employee benefits operating expenses increased $312 million in 2023 as compared with 2022 reflecting the additional quarter of People's United employees, higher salaries from increased average legacy staffing levels, annual merit increases, and higher employee benefits costs, including severance expenses and medical-related benefits expenses.” 10-K for 2023

2. Our summarySalaries and employee benefits expense rose in 2025, partly because of higher severance-related costs. 2025 · Cost: severance-related costs of $10 million

   Word for word“Salaries and employee benefits expense increased $180 million in 2025 as compared with 2024 reflecting annual merit and other increases, a rise in average staffing levels and an increase in medical benefits expense of $30 million, stock-based compensation expense of $20 million and severance-related costs of $10 million.” 10-K for 2025

M&T Bank has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.

Read from M&T Bank’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-18. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.