Silicon Valley Bank: 500 jobs cut by new owner First Citizens

2023-05-25 11:25

The move comes two months after SVB's collapse triggered fears of a banking crisis.

The new owner of Silicon Valley Bank's (SVB) US operations, First Citizens, is cutting around 500 roles held by former SVB workers, the BBC understands.

Two months ago, First Citizens bought the business after SVB's collapse.

The failure of SVB, along with two other US banks, triggered fears...