First Republic Bank to layoff 20-25% (~1600) in Q2

Quote from earnings report: “The Bank is also taking steps to reduce expenses, including significant reductions to executive officer compensation, condensing corporate office space, and reducing non-essential projects and activities. The Bank also expects to reduce its workforce by approximately 20-25% in the second quarter.” ___ Source: https://www.businesswire.com/news/home/20230424005719/en/First-Republic-Reports-First-Quarter-2023-Results