PNC Financial to Cut 777 Lakewood Corporate Positions Following $4.1 Billion FirstBank Acquisition

PNC Financial announces up to 777 job cuts at FirstBank’s Lakewood office. Learn about the $4.1B merger impact on Colorado's banking sector and employees.

By: AXL Media

Published: Apr 21, 2026, 8:17 AM EDT

Source: Information for this report was sourced from The Colorado Sun

Consolidation Efforts Target Overlapping Corporate Roles

The integration of FirstBank into PNC Financial has reached a critical administrative phase, resulting in a formal notice to the state labor department regarding significant workforce reductions. Up to 777 employees stationed at the corporate offices in Lakewood are expected to be impacted by the organizational changes. According to a PNC spokesperson, the decision stems from a detailed review of roles where operational overlap occurred between the two banking entities. These staff reductions are primarily centralized in Colorado, following the $4.1 billion acquisition announced last fall.

Strategic Retention of Frontline and Tech Talent

Despite the corporate cuts, PNC has committed to maintaining stability within its retail and business service sectors. Every employee currently in a client-facing or direct business-interaction role is being retained to ensure a seamless transition for the existing customer base. Furthermore, PNC has designated Denver as a strategic technology hub, citing the depth of local technical expertise as a primary factor for continued investment. Affected employees from other departments are being urged to seek new positions within the expanded PNC network, with several individuals already securing alternate roles.

Expansion of Banking Footprint Across Colorado

The merger has fundamentally reshaped the competitive landscape of Colorado’s banking sector, tripling PNC’s physical presence in the state. By converting 95 existing FirstBank branches to the PNC brand, the institution now operates 120 locations, positioning it as one of the largest financial entities in the Denver metropolitan area. FirstBank, a Colorado fixture since 1963, brought $26 billion in assets and $23 billion in deposits to the deal when it officially closed in January 2026.