By Lananh Nguyen and Pete Schroeder
NEW YORK (Reuters) – The U.S. regulator that took over Silicon Valley Bank has offered bank employees 45 days of employment at 1.5 times their normal salary, according to an email sent to workers and seen by Reuters.
Employees will receive benefit information over the weekend from regulator Federal Deposit Insurance Corporation (FDIC), and health plan details will be provided by former parent company SVB Financial Group, according to the email. Friday mail.
SVB had 8,528 employees at the end of last year.
The regulator has told employees to continue working remotely, with some exceptions, including essential workers.
The FDIC did not immediately respond to a request for comment.
Silicon Valley Bank collapsed after customers, concerned about the bank’s health, began withdrawing their deposits. The move stunned markets, leading to a loss of more than $100 billion in market value by US banks.
(Reporting by Lananh Nguyen in New York and Pete Schroeder in Washington)
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