Apr 1, 2014 6:28 PM by Dave Fields

Iberia Bank disputes City Business report, says it plans to layoff 97

An Iberia Bank spokesperson disputes a New Orleans City Business report that Iberia Bank, in advance of its upcoming merger with Teche Federal in late May, would be offering jobs to half of Teche's 300 employees and would be laying off about 100 more.

Iberia Bank Communications Director Beth Ardoin said she had spoken to the publication's reporter, but that the figures reported are inaccurate.

Ardoin said that other reports by The Advocate and by The Independent that Iberia Bank about a public disclosure of 97 planned layoffs by Iberia Bank are correct.

"That report is accurate," Ardoin said.

According to the report in The Independent, Ardoin said the public disclosure of the layoffs was part of "a Worker Adjustment and Retraining Notification Act notice," the report said, which had been "filed Monday with the state workforce commission." The report, according to the notice, stated that "the layoffs will come incrementally in two-week stretches, with the first wave announced for May 31 and the second beginning June 30."

The Independent article also included an explanation from Iberia Bank CEO Daryl Byrd at the time the merger was announced in January.

"There will be some job eliminations... but we don't have the numbers. We won't know the numbers until later on when the deal is finalized. We plan on working through the process and making sure we keep the right people," Byrd said.

KATC reached out to Teche Federal representatives, but they said that no one from the bank would be available for comment.

To read the disputed City Business report, click here.



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