PNC cutting jobs but company remains mum on the number of people affected

PNC Financial Services Group Inc.
PNC,
+0.25%
is reducing its staffing levels but it has yet to provide a specific number of people to be affected by the action, according to a statement from the company emailed to MarketWatch. The Pittsburgh-based lender with about 60,000 employees said it’s reviewing its organizational structure including a shift away from work not fully aligned to its strategic priorities. The moves will include staff level reductions. PNC’s stock was up 1.1% in recent trading. The move was initially reported by other news outlets.