PNC Financial to Implement Permanent Layoffs for 777 Workers at Lakewood West Colfax Facility

PNC Bank announces 777 permanent layoffs in Lakewood following its FirstBank acquisition. Read about the WARN notice and the bank's Denver tech hub plans.

By: AXL Media

Published: Apr 21, 2026, 8:20 AM EDT

Source: Information for this report was sourced from AsatuNews

Operational Consolidation Triggers Significant Workforce Reductions

The final phase of the $4.1 billion merger between PNC Bank and FirstBank has resulted in a formal filing under the Worker Adjustment and Retraining Notification (WARN) Act, signaling a permanent reduction in force. Justin McKim, HR Operations Service Manager at PNC, confirmed that approximately 777 employees stationed at the West Colfax Building in Lakewood will be affected. This consolidation effort aims to transition the two entities into a single, unified organization. The process is scheduled to commence on June 30, 2026, marking a significant shift for the local labor market as the bank addresses overlapping roles created by the acquisition.

Strategic Facility Retention and Tech Hub Designation

Despite the scale of the layoffs, PNC officials have clarified that the West Colfax Building will remain a functional asset for the company. The facility is expected to stay open, housing remaining employees who were not part of the current reduction. A key component of PNC’s long-term strategy in Colorado involves designating Denver as a strategic technology hub. By leveraging the existing talent pool from FirstBank, PNC intends to bolster its technical capabilities, even as it streamlines corporate and administrative functions through the ongoing integration process.

Commitment to Frontline Staff and Local Service Continuity

In a statement released Monday, PNC reinforced its commitment to maintaining stability for its depositors by retaining all employees in client-facing roles. As the bank currently holds the largest market share of deposits in the metro Denver area, preserving the frontline workforce is seen as essential for managing its 120 combined branch locations. Leadership indicated that while organizational changes are primarily concentrated in Colorado, the decision to keep customer-service personnel intact is designed to prevent disruptions to daily banking operations and maintain community trust during the brand transition.