Fifth Third Bank is cutting more than 740 employees across multiple WARN filings tied to its $10.9 billion acquisition of Comerica, which closed February 1, 2026. The largest single filing, disclosed in early May 2026, eliminates 502 positions at Comerica's customer operations center in Farmington, Michigan, phased from July 1 through November 2026. Earlier filings hit Comerica's Texas footprint, including its Frisco Star Tower headquarters.
| Location | Filed | Employees | Effective |
|---|---|---|---|
| Texas - Frisco Star Tower | Jan 7, 2026 | 184 | Mar 13, 2026 |
| Texas - 17 Cowboys Way at the Star, Frisco | Feb 5, 2026 | 54 | Apr 24 to May 22, 2026 |
| Michigan - 36455 Corporate Drive, Farmington | Early May 2026 | 502 | Jul 1 to Nov 2026 |
Fifth Third Bancorp closed its $10.9 billion acquisition of Comerica on February 1, 2026, creating the 9th largest bank in the United States with about $294 billion in assets. CEO Tim Spence has set a target of $850 million in total cost savings from the combination, with reductions described by the bank as "concentrated in overhead and noncustomer-facing roles." On the January earnings call, CFO Bryan Preston flagged roughly $400 million of expense reductions to land in 2026.
About 76 Michigan branches are expected to close in the second half of 2026, including 55 Comerica locations and 21 Fifth Third locations. The bank also moved its customer conversion forward to Labor Day 2026 from a previously planned mid-October target, compressing the integration timeline.
Michigan was Comerica's headquarters state, and the Farmington site is the customer operations center, mostly back-office and noncustomer-facing roles. The phasing from July 1 through November bridges the Labor Day customer conversion, allowing the integration of operations and systems to move forward while the legacy team is wound down. The Farmington reduction is the largest visible Fifth Third / Comerica WARN filing to date and likely will not be the last as integration progresses through 2027.
The Fifth Third / Comerica deal is one of the largest US regional bank mergers in years and joins a wave of finance-sector consolidation. PNC's acquisition of FirstBank produced 777 layoffs in Lakewood, Colorado in April. Commerzbank's Frankfurt-based merger plan accounts for 3,900 cuts. Citigroup is in the middle of a 20,000-position multi-year reduction. Cost savings concentrated in overhead and back-office is the recurring template.