Press Releases

Sen. Carper Closely Monitoring Wilmington Trust/M&T Bank Situation in Delaware

Senator Pledges to Work Closely with State and Federal Authorities to Assist Displaced Workers

Feb 02 2011

WASHINGTON – Sen. Tom Carper (D-Del.) issued the following statement in response to news today that Wilmington Trust, recently acquired by M&T Bank, will lay off a significant number of employees as part of its reorganization process:

"I was saddened to learn earlier today that Wilmington Trust will lay off a significant number of employees as it reorganizes its operations after being acquired by M&T Bank last year. While I am hopeful that most of the Wilmington Trust employees will be able to keep their jobs under this merger, it is obviously disappointing news anytime hardworking employees lose their jobs through no fault of their own, and my thoughts are with these employees and their families during this difficult time.

"My staff and I have been in communication with M&T Bank since we first heard rumors that they might acquire Wilmington Trust. In my conversations with M&T Bank, I have repeatedly urged them to retain the valuable services of their Delaware-based employees, noting the quality and commitment of the Delaware workforce.

"My office and I will continue to monitor this situation as it unfolds, and while I was disappointed by the news of these layoffs, I am committed to working tirelessly to help all of the displaced workers through this difficult situation. My staff and I will coordinate with state officials to make sure that they have the appropriate federal resources necessary to address the needs of these displaced workers. I will also continue to work closely with Governor Markell, Senator Coons and Representative Carney to market Delaware as an ideal location for financial services companies to establish and grow their companies so that as adjustments occur in this industry, other opportunities exist for displaced workers."