Fifth Third Bank plans to permanently lay off 502 employees at its Farmington Hills office, the former Comerica Bank campus it gained in a merger earlier this year.
The layoffs are scheduled to take place between July 1 and November at 36455 Corporate Drive, according to a state WARN filing.
The notice follows Fifth Third Bancorp’s completion of its merger with Comerica Inc. this year, a deal that created the nation’s ninth-largest bank with about $294 billion in assets.
“We consistently review our operations to optimize our organizational structure and ensure we are best positioned for long-term growth and sustainable profitability,” the company said in a statement Friday. “We are focused on creating a new Fifth Third that creates meaningful opportunities for employees, and we’re making changes to align staffing with future business needs.”
Officials did not say which positions or departments would be impacted.
When the merger was announced in October, the company said it was committed to maintaining the Great Lakes campus in Farmington Hills that opened in 2024. At the time, the 340,000-square foot campus was Comerica’s largest corporate office and had nearly 2,000 employees.
In March, Fifth Third announced that One Campus Martius in Detroit would serve as its Michigan headquarters, anchoring its southeast Michigan footprint. The plan also called for a regional presence including the Great Lakes Campus in Farmington Hills, along with offices in Birmingham, at One Woodward and the Auburn Hills Operations Center.
cwilliams@detroitnews.com
This article originally appeared on The Detroit News: Fifth Third to lay off hundreds at former Comerica campus
Reporting by Candice Williams, The Detroit News / The Detroit News
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