TD Bank announced it plans to close 81 branches, including 13 locations in New Jersey.
In a statement, the Canadian-based bank with U.S. headquarters in Cherry Hill said the branch closures would be effective April 23
TD Bank cited lower numbers customers and transaction volumes, as well as proximity to other TD Bank branches in determining which location to close, according to the statement.
“We have already begun notifying impacted customers,” a spokeswoman said on behalf of TD Bank. “Our goal is to make this transition as smooth as possible for them.”
According to the statement, the 81 stores being shuttered represents just over 6% of the bank’s 1,223 branches in the country.
TD Bank branches closing in New Jersey include:
- 601 College Drive, Blackwood
- 1506 Berlin Road, Cherry Hill
- 351 Midland Avenue, Garfield
- 1636 Route 38, Lumberton
- 571 New York Avenue, Lyndhurst
- 688 Paramus Road, Paramus
- 430 N Beverwyck Road, Parsippany
- 5 State Highway 31, Pennington
- 536 N Maple Avenue, Ridgewood
- 129 South Black Horse Pike, Runnemede
- 10 Mule Road, Toms River
- 361 Union Boulevard, Totowa
- 560 North Avenue E, Westfield
TD Bank did not specify how many layoffs there would be, but confirmed that employees would be affected.
“Some TD employees will be impacted by the store closings, although the bank is continuing efforts to redeploy impacted employees,” the spokeswoman said in a statement. “TD is committed to treating our impacted colleagues fairly and with respect and supporting them with resources to assist with the transition.”
TD Bank did not immediately respond to whether the COVID-19 pandemic was a factor.
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Rodrigo Torrejon may be reached at rtorrejon@njadvancemedia.com. Follow him on Twitter @rodrigotorrejon.
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