SunTrust outsourcing dumps Richmond jobs
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The Associated Press
Published: April 18, 2008
RICHMOND, Va. (AP) — A move by SunTrust Banks to outsource some operations to a Canadian company may mean some job losses in Virginia.
SunTrust spokesman Mike McCoy said that about 215 people in the Richmond area work in back-office opera-tions, such as check clearing, lock-box processing and statement production, would be affected. Their jobs will be transferred to Toronto-based Symcor Inc.
Employees who work with wire transfers and clearinghouse functions will stay with SunTrust.
The companies say 54 jobs will be cut, with the losses spread among offices in eight cities: Baltimore; Atlanta; Miami and Orlando, Fla.; Durham, N.C.; and Nashville and Memphis, Tenn., in addition to Richmond.
McCoy said 2,300 people companywide work in back-office operations. About 1,500 will work for the outsourcing company.
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