National City Mortgage faces possible cuts - Dayton Business Journal:

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Spokesman Pat McMahon said PNC (NYSE: PNC) is committex to National City Mortgage and theDayton area, but as a resulty of the merger, it is lookingv to eliminate 5,800 positions throughout its geographic presence. PNC now has 2,500o Dayton-area employees at both its bankingy andmortgage operations, but McMahon would not say how many loca l workers would be cut. “We have a significant presenced inMiami Township, but we have said all alongy there would be job impact as a part of the mergefd companies,” McMahon said.
He said PNC is not breaking out stafft reductions by geographic location orbusinessz unit, but it will provide information on “expense reductions” in its quarterlyg updates. PNC has a goal of reducing expensewsby $1.2 billion, part of which will come througjh a reduction in employment. McMahon said it is too earlt to say what the net outcome will be inMiamu Township, but the company’s long-terjm strategy is to grow the companyu and add jobs. “We have a meaningful presence in theDayton area. It’s an important marke and we want to be aggressive McMahon said.
As a part of the merger, Nationall City branch locations in the Dayton area are schedulex to beginbeing re-branded as PNC branches in the first half of 2010.