Brief: First Fed Bank- Workforce Cut Result Of Review Of Existing Positions At Bank To Assess Whether Certain Roles, Responsibilities Were Necessary

First Northwest BanCorp

22/09/2022 20:49

Sept 22 (Reuters) - First Northwest Bancorp  FNWB.O :
    * FIRST FED BANK- AFTER REDUCTION, FIRST FED WILL HAVE ABOUT
280
TEAM MEMBERS
    * FIRST FED ANNOUNCES WORKFORCE REDUCTION
    * FIRST FED BANK - ANNOUNCED IT HAS REDUCED ITS WORKFORCE BY
APPROXIMATELY 5% THROUGH POSITION ELIMINATION AND ATTRITION
    * FIRST FED BANK - ONE-TIME COSTS WITH WORKFORCE CUT ARE
$225,000
& WILL REDUCE ANNUAL OPERATING EXPENSES BY APPROXIMATELY $1.3
MILLION IN FUTURE QTRS
    * FIRST FED BANK- WORKFORCE CUT RESULT OF REVIEW OF EXISTING
POSITIONS AT BANK TO ASSESS WHETHER CERTAIN ROLES,
RESPONSIBILITIES WERE NECESSARY

Further company coverage:  FNWB.O 
 ((Reuters.Briefs@thomsonreuters.com;))