Local officials are leaning on M&T Bank to close the employees-only cafeteria at what will soon become its New England regional headquarters as a way of proving its commitment to the communities it’s entering.
The cafeteria in the People’s United Bank headquarters building serves the 1,350 bank employees who worked in the downtown Bridgeport tower before COVID-19.
M&T Bank plans to buy People’s United for $7.6 billion, with the deal set to close in October pending regulatory approval, and has said it will not be making any front-line staffing reductions. M&T will maintain People’s United’s Bridgeport office and use it to manage the latter’s extensive presence across New England.
The Connecticut Post reports some local business leaders say the city would benefit if the bank either closed the cafeteria or converted it into a “food hall” staffed not by caterers but by local restauranteurs operating food court-like stands.
Downtown Bridgeport has seen its restaurant offerings grow in recent years as the neighborhood slowly attracts more investment from local and out-of-town developers and shops, alike.
Updated 1:58 p.m. March 11, 2021: This story has been updated to correct M&T Bank’s anticipated staffing plans. The bank is not expecting to reduce front-line staff but may be reducing back-office staff.





