Chemical Bank to close 25 branches, eliminate $20 Million American jobs

Chemical Bank to close 25 branches, trim workforce by 7 percent

Chemical Financial Corp. plans to close and consolidate 25 more branches by the end of the year and trim its workforce 7 percent in a cost-cutting initiative that will generate $20 million in annualized savings.

The initiative follows a shift in the baking industry to reduce branch networks as customers increasingly embrace online and mobile banking.

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