| Period End | Type | Status | Affected | % Workforce | Announced | Expected Completion | Geography | Segment / Function | Charge | Source | Note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023-12-31 | restructuring | completed | United States | Enterprise-wide | USD 25 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Severance costs for expense recalibration to enhance earnings and create capacity for strategic/risk initiatives; employee count not disclosed. | ||||
| 2023-12-31 | restructuring | completed | United States | Retail banking / corporate facilities / technology | USD 6 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Includes transitional real estate costs, severance and contract labor, gains on real estate sales, asset impairments, and contract termination costs. Employee count not disclosed. | ||||
| 2023-12-31 | restructuring | completed | USD 25 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Severance costs related to expense recalibration initiatives intended to enhance earnings power and create capacity for strategic and risk management initiatives. | ||||||
| 2022-12-31 | plant_closure | completed | United States | Retail Bank / Corporate Facilities | USD 38 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Includes transitional real estate costs ($13M in occupancy), asset impairments and consulting fees ($11M in other noninterest expenses), and contract labor and severance costs ($14M in salaries and benefits) related to retail delivery model transformation, corporate facility alignment, and technology optimization. No employee count disclosed. | ||||
| 2022-03-31 | restructuring | in_progress | United States | Retail Bank / Corporate Facilities / Technology | USD 6 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance costs for transformation of retail banking delivery model, corporate facilities alignment, and technology platform optimization; no employee count disclosed. | ||||
| 2022-03-31 | restructuring | in_progress | 2022-03-31 | Retail Banking | USD 6 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | First quarter 2022 included $6 million of expenses for severance costs related to transformation of the retail banking delivery model, alignment of corporate facilities and optimization of technology platforms. | ||||
| 2020-12-31 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2020-12-31 | restructuring | in_progress | Parent Company [Member] | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2019-12-31 | restructuring | completed | 2019-12-31 | USD 0 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | GEAR Up efficiency initiative restructuring charges ended in 2019; $0 million charged in 2019 compared to $53 million in 2018. | |||||
| 2019-12-31 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2019-12-31 | restructuring | in_progress | Parent Company [Member] | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2019-09-30 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2019-06-30 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2019-03-31 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2018-12-31 | restructuring | completed | 2016 | 2018-12-31 | United States | Enterprise-wide (GEAR Up initiative) | USD 53 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | GEAR Up program launched 2016; filer states full-time equivalent employees reduced by over 900 since launch (cumulative through 2018-12-31, not current-year only) and 38 banking centers consolidated. Charge shown is the 2018 restructuring charge; cumulative charges of $191 million since inception. Filer states restructuring activities were completed as of 2018-12-31. | ||
| 2018-12-31 | restructuring | completed | 2016-07-01 | 2018-12-31 | Global | All segments | USD 53 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Part of GEAR Up initiative launched in 2016. Cumulative pre-tax charges of $191 million from inception through Dec 31, 2018. 2018 charges included $10M employee costs, $4M facilities, $37M technology, $2M other. Initiative reduced FTEs by over 900 since launch. | ||
| 2018-12-31 | restructuring | in_progress | USD 53,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2018-12-31 | restructuring | in_progress | Parent Company [Member] | USD 2,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Technology costs [Member] | USD 37,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Employee Severance [Member] | USD 10,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Facility Closing [Member] | USD 4,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Other Restructuring [Member] | USD 2,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Business Bank Member | USD 30,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Retail Bank Member | USD 16,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-12-31 | restructuring | in_progress | Wealth Management [Member] | USD 7,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | 100 | 2016-01-01 | 2018-12-31 | United States | Enterprise-wide | USD 39 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Approximately 100 FTE reduction in first nine months of 2018; cumulative reduction over 900 FTEs since 2016. Nine-month restructuring charge $39M; full-year 2018 expected $47–52M. Cumulative charges from inception expected $185–190M. No restructuring charges anticipated beyond 2018. | |
| 2018-09-30 | restructuring | in_progress | 2016-01-01 | 2018-12-31 | United States | Corporate / All Segments | USD 39 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | GEAR Up initiative launched in 2016. MD&A states reduction of 'over 900' FTEs since launch, including 'approximately 100' in the first nine months of 2018. Note 13 reports $39 million in restructuring charges for the nine months ended Sept 30, 2018, with total expected charges of $185-$190 million. Completion expected by 12/31/2018. | ||
| 2018-09-30 | restructuring | in_progress | USD 12,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2018-09-30 | restructuring | in_progress | Technology costs [Member] | USD 28,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | Employee Severance [Member] | USD 7,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | Facility Closing [Member] | USD 3,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | Other Restructuring [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | Business Bank Member | USD 23,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | Retail Bank Member | USD 11,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | Wealth Management [Member] | USD 5,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | 100 | 2016 | 2018-12-31 | United States | Enterprise-wide | USD 27 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Approximately 100 FTE reduction in first six months of 2018; cumulative reduction over 900 FTE since 2016 launch. Charge shown is six-month 2018 restructuring charges. Also consolidated 38 banking centers since 2016. | |
| 2018-06-30 | restructuring | in_progress | 2016-01-01 | 2018-12-31 | United States | Corporate / All Segments | USD 27 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Part of the 'GEAR Up' initiative launched in 2016. MD&A states approximately 100 full-time equivalent employees were reduced in the first six months of 2018. Note 13 discloses $27 million in restructuring charges for the six months ended June 30, 2018, comprising employee, facilities, technology, and other costs. Expected completion by 12/31/2018. | ||
| 2018-06-30 | restructuring | in_progress | USD 11,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2018-06-30 | restructuring | in_progress | Technology costs [Member] | USD 10,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | Employee Severance [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | Facility Closing [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | Other Restructuring [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | Business Bank Member | USD 6,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | Retail Bank Member | USD 4,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-30 | restructuring | in_progress | Wealth Management [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | 2016-01-01 | 2018-12-31 | United States | Enterprise-wide | USD 16 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2018 restructuring charge of $16M; cumulative charges to date $154M; expected total $185-195M. Cumulative FTE reduction of over 800 since 2016 launch. No quarterly employee-affected count disclosed. | ||
| 2018-03-31 | plant_closure | in_progress | 2016-01-01 | 2018-12-31 | United States | Retail Bank | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | 38 banking centers consolidated since GEAR Up launch in 2016; banking center count declined from 458 to 438 year-over-year. Facilities restructuring charges of $18M incurred to date. | |||
| 2018-03-31 | restructuring | in_progress | 2016-01-01 | 2018-12-31 | United States | Corporate / All Segments | USD 16 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Part of the 'GEAR Up' initiative launched in 2016. Q1 2018 charges included $5M employee costs, $1M facilities, $10M technology, and $0M other. Cumulative charges to date are $154M. Expected total charges range from $185M to $195M. MD&A notes over 800 FTEs reduced since launch. | ||
| 2018-03-31 | restructuring | in_progress | USD 16,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2018-03-31 | restructuring | in_progress | Technology costs [Member] | USD 10,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | Employee Severance [Member] | USD 5,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | Facility Closing [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | Other Restructuring [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | Business Bank Member | USD 9,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | Retail Bank Member | USD 5,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-03-31 | restructuring | in_progress | Wealth Management [Member] | USD 2,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | 800 | 2016-04-01 | 2018-12-31 | United States | Enterprise-wide | USD 45 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Headcount figure disclosed as a reduction of 'over 800' full-time equivalents, cumulative since program launch in Q2 2016 (announcement day not specified); charge of $45M is the 2017 fiscal-year charge only, within cumulative charges of $138M through 2017-12-31 against a total expected program cost of $185M-$195M. | |
| 2017-12-31 | plant_closure | in_progress | 2016-04-01 | 2018-12-31 | United States | Retail Bank | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Component of the GEAR Up restructuring program: 38 banking centers consolidated cumulative since 2016 inception; no separate headcount or charge disclosed for this component (headcount captured in the parent restructuring record). Banking center count reported as 438 at 2017-12-31 vs 458 at 2016-12-31. | |||
| 2017-12-31 | restructuring | in_progress | 2016-07-01 | 2018-12-31 | United States | All Segments | USD 45 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | GEAR Up initiative launched in July 2016. 2017 charges include employee, facilities, technology, and other costs. Cumulative charges through 2017 were $138 million. Expected total charges $185-$195 million. Employee count affected not explicitly disclosed for 2017, though MD&A notes reduction of over 800 FTEs since inception. | ||
| 2017-12-31 | restructuring | in_progress | USD 45,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2017-12-31 | restructuring | in_progress | Parent Company [Member] | USD 6,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Technology costs [Member] | USD 26,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Employee Severance [Member] | USD 10,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Facility Closing [Member] | USD 2,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Other Restructuring [Member] | USD 7,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Business Bank Member | USD 24,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Retail Bank Member | USD 15,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Wealth Management [Member] | USD 6,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | 800 | 2016-06-01 | 2018-12-31 | United States | Enterprise-wide | USD 185 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative FTE reduction of over 800 since June 2016; includes 38 banking center closures. Total expected restructuring charges of $185–195M through 2018; $125M incurred through 9/30/2017. | |
| 2017-09-30 | plant_closure | in_progress | 2016-06-01 | 2018-12-31 | United States | Retail Bank | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | 38 banking centers consolidated since initiative launch in June 2016; facilities costs primarily impacted Retail Bank segment. | |||
| 2017-09-30 | restructuring | in_progress | 2016-06-01 | 2018-12-31 | United States | Corporate / All Segments | USD 7 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | GEAR Up initiative launched Q2 2016. Q3 2017 charges of $7M. Cumulative charges $125M. Expected total $185-195M. Includes reduction in workforce of over 800 FTEs since inception. | ||
| 2017-09-30 | restructuring | in_progress | USD 7,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2017-09-30 | restructuring | in_progress | Technology costs [Member] | USD 5,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | Employee Severance [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | Facility Closing [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | Other Restructuring [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | Business Bank Member | USD 4,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | Retail Bank Member | USD 2,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-09-30 | restructuring | in_progress | Wealth Management [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | 2016-06-30 | 2018-12-31 | United States | Enterprise-wide | USD 14 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | GEAR Up initiative includes workforce reduction, retirement program changes, banking center consolidation (38 centers), and technology optimization. No employee count disclosed. $14M charge in Q2 2017; $25M YTD; $118M cumulative through 6/30/17; total expected $140-160M. | ||
| 2017-06-30 | plant_closure | in_progress | 2016-06-30 | 2018-12-31 | United States | Retail Bank | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of 38 banking centers as part of GEAR Up; banking center count declined from 473 at 6/30/16 to 439 at 6/30/17. No headcount associated with closures disclosed. | |||
| 2017-06-30 | restructuring | in_progress | 2016-04-01 | 2018-12-31 | United States | Corporate / All Segments | USD 14 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | GEAR Up initiative launched in Q2 2016. Q2 2017 charges include employee, facilities, technology, and other costs. Total expected charges $140-$160M. Employee count affected not disclosed in this filing. | ||
| 2017-06-30 | restructuring | in_progress | USD 14,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2017-06-30 | restructuring | in_progress | Technology costs [Member] | USD 6,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | Employee Severance [Member] | USD 3,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | Facility Closing [Member] | USD 4,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | Other Restructuring [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | Business Bank Member | USD 7,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | Retail Bank Member | USD 4,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-06-30 | restructuring | in_progress | Wealth Management [Member] | USD 3,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | 2016-06-01 | 2018-12-31 | United States | Enterprise-wide | USD 11 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | GEAR Up initiative launched Q2 2016; includes workforce reduction, retirement program changes, consolidation of 38 banking centers, technology outsourcing. $11M restructuring charge in Q1 2017; $104M cumulative through 3/31/17; total expected $140-160M. No employee headcount affected disclosed. | ||
| 2017-03-31 | restructuring | in_progress | 2016-06-01 | 2018-12-31 | United States | Corporate and Business Segments | USD 11 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Part of the 'GEAR Up' initiative launched in Q2 2016. Q1 2017 charges included $1M employee costs, $1M facilities, $6M technology, and $3M other. Total expected charges $140M-$160M through 2018. Employee count affected not disclosed. | ||
| 2017-03-31 | restructuring | in_progress | Technology costs [Member] | USD 6,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | Employee Severance [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | Facility Closing [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | Other Restructuring [Member] | USD 3,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | Business Bank Member | USD 6,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | Retail Bank Member | USD 4,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | Wealth Management [Member] | USD 1,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-03-31 | restructuring | in_progress | USD 11,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2016-12-31 | restructuring | in_progress | 2018-12-31 | United States | Enterprise-wide | USD 93 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Launched in Q2 2016 (exact announcement date not disclosed); includes a workforce reduction, a new retirement program, process streamlining, real estate optimization and technology outsourcing. $93M charged through 2016-12-31 (employee $52M, facilities $15M, other $26M); total expected program charges of $140M-$160M through 2018, with $25M-$50M expected in 2017. Number of employees affected not disclosed. | |||
| 2016-12-31 | plant_closure | completed | 2016-12-31 | United States | Retail Bank | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidation of 19 banking centers completed during 2016 under GEAR Up; an additional 19 centers planned for 2017 (38 total). Banking center count declined from 477 to 458 during 2016. Associated headcount not disclosed; facilities restructuring charges of $15M recorded in 2016 are captured in the GEAR Up restructuring record. | ||||
| 2016-12-31 | restructuring | in_progress | 2016-04-01 | 2018-12-31 | United States | All Segments | USD 93 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | GEAR Up initiative launched in Q2 2016. Includes workforce reduction and banking center consolidations. Employee headcount affected not explicitly disclosed, but $52M in employee costs incurred. Total expected charges $140M-$160M through 2018. | ||
| 2016-12-31 | restructuring | in_progress | USD 93,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2016-12-31 | restructuring | in_progress | Parent Company [Member] | USD 33,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Technology costs [Member] | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Employee Severance [Member] | USD 52,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Facility Closing [Member] | USD 15,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Other Restructuring [Member] | USD 26,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Business Bank Member | USD 43,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Retail Bank Member | USD 38,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Wealth Management [Member] | USD 12,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | 700 | 2016-04-01 | 2018-12-31 | United States | Enterprise-wide (GEAR Up initiative) | USD 140 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nearly 700 employees notified of position eliminations; ~30% of managerial positions removed. Total expected pre-tax restructuring charges of $140–160M through 2018; $73M incurred through 9/30/16. Includes consolidation of 38 banking centers (19 by end of 2016). | |
| 2016-09-30 | plant_closure | in_progress | 2016-04-01 | 2017-06-30 | United States | Retail Bank | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of 38 banking centers; 19 to be consolidated by end of 2016, remainder before end of Q2 2017. Facilities costs expected to primarily impact Retail Bank. Headcount impact not separately quantified. | |||
| 2016-09-30 | restructuring | in_progress | 700 | 2016-04-26 | 2018-12-31 | United States | Corporate and Business Segments | USD 73 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | GEAR Up initiative launched in Q2 2016. Nearly 700 employees notified of position elimination. Total expected charges $140-$160 million through 2018. | |
| 2016-09-30 | restructuring | in_progress | USD 20,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2016-09-30 | restructuring | in_progress | Technology costs [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | Employee Severance [Member] | USD 4,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | Facility Closing [Member] | USD 5,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | Other Restructuring [Member] | USD 11,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | Business Bank Member | USD 10,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | Retail Bank Member | USD 8,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-09-30 | restructuring | in_progress | Wealth Management [Member] | USD 2,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | 9% | 2016-04-01 | 2018-12-31 | United States | Enterprise-wide | USD 150 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | GEAR Up initiative approved in Q2 2016. Approximately 9% workforce reduction plus consolidation of ~40 banking centers. $53M charged through 2016-06-30; total expected charges $140–160M through 2018. Exact headcount not disclosed. | |
| 2016-06-30 | plant_closure | in_progress | 2016-04-01 | 2018-12-31 | United States | Retail Bank | USD 38 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Consolidation of approximately 40 banking centers as part of GEAR Up. Facilities cost range $35–40M expected. Facilities costs expected to primarily impact Retail Bank segment. | ||
| 2016-06-30 | restructuring | in_progress | 9% | 2016-04-01 | 2018-12-31 | Global | Corporate and Business Segments | USD 53 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Initiative 'GEAR Up' includes reduction in workforce of approximately 9 percent. Total expected charges $140-$160 million through 2018. Q2 charges included $46 million employee costs and $7 million other costs. | |
| 2016-06-30 | restructuring | in_progress | USD 53,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2016-06-30 | restructuring | in_progress | Technology costs [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Employee Severance [Member] | USD 46,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Facility Closing [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Other Restructuring [Member] | USD 7,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Business Bank Member | USD 26,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Retail Bank Member | USD 19,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Wealth Management [Member] | USD 8,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2013-12-31 | restructuring | completed | 2012-12-31 | USD 0 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Merger and restructuring charges were $0 million in 2013, compared to $35 million in 2012. The restructuring plan related to the 2011 Sterling acquisition was completed in 2012. | |||||
| 2012-12-31 | restructuring | completed | 2011-07-28 | 2012-12-31 | United States | Enterprise-wide (Sterling integration) | USD 35 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sterling integration restructuring plan completed as of December 31, 2012; $35M charged in FY2012 within a $110M cumulative program ($70M after-tax). Severance and other employee-related charges were $1M in FY2012 ($26M cumulative). Headcount affected not disclosed; MD&A notes the program included a reduction in staffing levels. | ||
| 2012-12-31 | restructuring | completed | 2011-07-28 | 2012-12-31 | United States | All segments | USD 35 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Related to acquisition of Sterling Bancshares. Total cumulative cost $110 million. $35 million charged in 2012. Employee count not disclosed. | ||
| 2012-12-31 | restructuring | in_progress | USD 41,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2012-09-30 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Enterprise-wide | USD 112 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring plan tied to Sterling Bancshares acquisition (completed 2011-07-28); cumulative costs expected ~$112M ($71M after-tax), with $108M incurred through 2012-09-30. Includes severance and employee-related charges of $26M incurred to date. No employee headcount affected is disclosed. | ||
| 2012-09-30 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Corporate / All Segments | USD 25 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Restructuring plan connected to Sterling Bancshares acquisition. Q3 2012 charges of $25M included $25M for facilities/contract termination. Total expected costs ~$112M. Employee count affected not disclosed. | ||
| 2012-09-30 | restructuring | in_progress | USD 25,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2012-06-30 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Enterprise-wide | USD 115 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sterling Bancshares integration restructuring plan; $83M incurred through 6/30/12; ~$30M remaining, substantially all expected in Q3 2012. Severance and employee-related charges of $26M incurred to date. No employee headcount disclosed. | ||
| 2012-06-30 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Corporate / All Segments | USD 83 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Restructuring plan connected to the acquisition of Sterling Bancshares, Inc. on July 28, 2011. Cumulative costs expected to be approximately $115 million. $83 million incurred through June 30, 2012. Includes facilities, systems integration, severance, and transaction costs. Employee count affected is not disclosed. | ||
| 2012-03-31 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Corporate / All Segments | USD 75 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Restructuring plan connected to Sterling Bancshares acquisition. Cumulative costs expected to be approx $115 million. $75 million recognized from acquisition date through March 31, 2012. Includes severance, facilities, and systems integration. | ||
| 2011-12-31 | acquisition_addition | completed | 2011-01-16 | 2011-07-28 | Texas (Houston and San Antonio areas) | Banking (Business Bank, Retail Bank) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Stock-for-stock acquisition of Sterling Bancshares completed July 28, 2011; approximately 24 million Comerica shares issued. Sterling headcount added is not disclosed in the filing. | |||
| 2011-12-31 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Enterprise-wide (facilities, systems integration, severance) | USD 75 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Charge shown is the amount incurred in fiscal year 2011; cumulative program cost expected to be approximately $115 million ($73 million after-tax) through completion. Severance and other employee-related charges of $25 million were incurred in 2011; no employee count is disclosed. | ||
| 2011-12-31 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Corporate / All Segments | USD 75 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Merger and restructuring charges associated with the acquisition of Sterling Bancshares, Inc. Expected cumulative costs of approximately $115 million through end of plan. Includes facilities, contract termination, systems integration, severance, and transaction costs. | ||
| 2011-09-30 | acquisition_addition | completed | 2011-07-28 | 2011-07-28 | Texas, United States | Business Bank, Retail Bank, Wealth Management | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Sterling Bancshares, Inc. completed July 28, 2011; no employee headcount added disclosed. | |||
| 2011-09-30 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Enterprise-wide | USD 125 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring plan tied to Sterling integration; cumulative pre-tax cost estimated at $125M ($80M after-tax), covering facilities, systems integration, severance, and transaction costs. No employee count disclosed. $38M incurred in nine months ended 2011-09-30. | ||
| 2011-09-30 | restructuring | in_progress | 2011-07-28 | 2012-12-31 | United States | Corporate / All Segments | USD 125 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Restructuring plan committed in connection with Sterling Bancshares acquisition. Expected cumulative costs of $125 million through end of plan, primarily encompassing facilities and contract termination charges, systems integration, severance and other employee-related charges, and transaction-related costs. No specific employee count disclosed. | ||
| 2010-12-31 | acquisition_addition | announced | 2011-01-18 | 2011-06-30 | Texas, United States | Banking (Houston, San Antonio, Dallas, Fort Worth) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Stock-for-stock acquisition of Sterling Bancshares, Inc. (agreement dated 2011-01-16); Sterling had $5.2B assets and 57 banking centers at 2010-12-31. Sterling headcount not disclosed; estimated ~$745M goodwill at closing. | |||
| 2009-12-31 | restructuring | completed | 850 | 8% | 2009-12-31 | United States | Enterprise-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Filer states full-time equivalent staff was reduced by approximately 850, or eight percent, during 2009 through workforce reductions and attrition; reduction is stated on an FTE basis, not as a labeled RIF. Severance expense of $14 million is reported in the 2009 salaries detail but is not explicitly linked to this action. | ||
| 2009-12-31 | divestiture_reduction | completed | 2009-06-30 | United States | Wealth & Institutional Management — defined contribution plan recordkeeping | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of the proprietary defined contribution plan recordkeeping business occurred in the second quarter of 2009; associated headcount removed was not disclosed. | ||||
| 2009-12-31 | restructuring | completed | 850 | 8% | Global | Various | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Reduced full-time equivalent staff by approximately 850, or eight percent, in 2009 due to control of discretionary expenses and workforce. | |||
| 2009-06-30 | other | in_progress | 1,000 | 10% | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | MD&A attributes part of the salaries expense decline to a decrease of approximately 1,000 full-time equivalent staff (about ten percent) from June 30, 2008 to June 30, 2009. Filer does not label this as a formal RIF or restructuring program; no announcement date, completion date, or associated severance charge is disclosed. Percent-of-workforce figure is as stated by the filer. | |||||
| 2009-03-31 | restructuring | completed | 950 | USD 5 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Decrease of approximately 950 full-time equivalent staff from March 31, 2008 to March 31, 2009. Severance expense of $5 million recorded in Q1 2009. | |||||
| 2008-12-31 | restructuring | completed | 2008-12-31 | United States | Enterprise-wide | USD 34 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Staff reduction efforts primarily in Q4 2008 in response to deteriorating economic conditions; severance-related expenses of $34 million ($29M severance in salaries plus $5M severance-related benefits). Net full-time equivalent staff decreased approximately 600 employees (six percent) during 2008 even with 135 FTEs added for new banking centers; gross positions eliminated not separately disclosed. | |||
| 2008-12-31 | restructuring | announced | 5% | 2009-03-31 | United States | Enterprise-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Management expects to reduce the workforce by an additional five percent, largely to be completed in the first quarter of 2009; announced after fiscal year-end and before the filing date. Absolute headcount and charge not disclosed. | |||
| 2008-12-31 | restructuring | completed | 600 | 6% | 2008-12-31 | 2008-12-31 | United States | All Segments | USD 34 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Full-time equivalent employees decreased six percent (approximately 600 employees) from year-end 2007 to year-end 2008. Severance-related expenses totaled $34 million ($30 million in salaries and $5 million in benefits). |
| 2007-12-31 | restructuring | completed | United States (Dallas, Texas) | Corporate headquarters | USD 2 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Relocation of corporate headquarters to Dallas, Texas; $2 million of severance in 2007 plus approximately $6 million of other relocation costs. No employee count disclosed. | ||||
| 2007-12-31 | plant_closure | completed | United States (Michigan) | Retail Bank - banking center network | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Five banking centers in Michigan were consolidated during 2007 (two new centers opened and 22 refurbished in the same market). No associated headcount or charge disclosed. | |||||
| 2006-12-31 | divestiture_reduction | completed | 2006-12-31 | 2006-12-31 | United States | Wealth & Institutional Management (reported in discontinued operations) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Comerica's approximately 87% interest in Munder Capital Management closed in December 2006 for $232 million cash plus a contingent note; employee counts not disclosed. Filer states the sale occurred in the fourth quarter 2006. | |||
| 2006-12-31 | divestiture_reduction | completed | 2006-09-30 | 2006-09-30 | Mexico | Business Bank / Midwest & Other Markets | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of the Mexican bank charter completed in the third quarter 2006 with a $12 million net loss; $24 million of loans and $18 million of liabilities transferred to the buyer. Employee counts not disclosed; announcement date shown as quarter-end because only the quarter is stated. | |||
| 2006-12-31 | plant_closure | completed | 2006-12-31 | Michigan | Retail Bank | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Eleven banking centers in Michigan were consolidated during 2006, producing roughly $6 million of expense savings in the year; associated employee reductions not quantified. Announcement date not disclosed. | ||||
| 2006-12-31 | other | completed | 2006-12-31 | United States | Retail Bank | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | 25 new banking centers opened in 2006, adding approximately 145 full-time equivalent employees; net FTE growth from continuing operations was less than one percent (approximately 65 employees). Announcement date not disclosed. | ||||
| 2006-09-30 | plant_closure | in_progress | Michigan, United States | Retail Bank | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Filer reports consolidating 11 banking centers in Michigan during the nine months ended 2006-09-30; no associated headcount or charge disclosed. | |||||
| 2006-09-30 | divestiture_reduction | in_progress | 2006-07-01 | United States | Wealth & Institutional Management (Munder Capital Management) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement signed in Q3 2006 to sell Munder Capital Management; treated as discontinued operation. Closing anticipated late 2006. No employee count disclosed. | ||||
| 2006-09-30 | divestiture_reduction | completed | Mexico | Business Bank | USD 12 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of Mexican bank charter completed in Q3 2006 with cumulative net loss of $12 million; $24 million of loans and $18 million of liabilities transferred. No employee count disclosed. | ||||
| 2005-12-31 | divestiture_reduction | completed | 2005-10-31 | United Kingdom | Wealth & Institutional Management (asset management) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Framlington Group Limited completed 2005-10-31; headcount not disclosed. Related goodwill write-off of $34 million and $7 million of triggered incentive expense recorded. | ||||
| 2005-12-31 | divestiture_reduction | in_progress | Mexico | Business Bank | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Mexican bank charter initiated during 2005, expected to close within a year; approximately $43 million of loans and $29 million of liabilities classified as held-for-sale. Headcount not disclosed. | |||||
| 2005-12-31 | restructuring | completed | 75 | USD 6 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Full-time equivalent employee reduction of approximately 75 employees from year-end 2004 to year-end 2005. Severance expense was $6 million. | |||||
| 2005-09-30 | other | completed | 20 | 2005-07-01 | United States | Financial Services Division | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Department head and approximately 20 employees resigned to join competitor Commercial Capital Bank; Comerica filed litigation and obtained a TRO. Filer states 'approximately 20 other employees' — count is approximate. | |||
| 2005-09-30 | other | in_progress | 21 | 2005-07 | San Francisco | Financial Services Division | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Department head and approximately 20 other employees resigned and joined a competitor; litigation filed. | |||
| 2005-06-30 | other | announced | 21 | 2005-07-01 | United States | Financial Services Division | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | In July 2005, the department head and approximately 20 other employees in the Financial Services Division resigned and took employment at another financial institution. The Corporation stated numerous steps were taken to mitigate potential customer loss and the ultimate impact is not known. | |||
| 2005-06-30 | other | completed | 21 | 2005-07 | Financial Services Division | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Department head and approximately 20 other employees resigned and took employment at another financial institution. | ||||
| 2004-12-31 | restructuring | completed | 300 | 2004-12-31 | United States | Enterprise-wide | USD 11 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Approximate reduction in staff size of about 300 full-time-equivalent employees from year-end 2003 to year-end 2004; severance expense of $11 million recognized in 2004 (vs. $2 million in 2003). Filer does not label this a formal RIF and gives no announcement date. | ||
| 2004-12-31 | restructuring | completed | 300 | USD 9 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Full-time equivalent employee reduction of approximately 300 employees from year-end 2003 to year-end 2004, with $9 million in severance expense. | |||||
| 2004-06-30 | other | in_progress | 370 | United States | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Net FTE staff reduction of approximately 370 employees from June 30, 2003 to June 30, 2004, cited as partially offsetting higher salary, stock compensation, and severance expenses. Not a discrete announced program; represents a year-over-year net change. Severance expense was $4M for Q2 2004 and $7M for six months ended June 30, 2004, compared to less than $1M in the comparable prior-year periods. | |||||
| 2004-03-31 | restructuring | in_progress | United States | Corporate / enterprise-wide | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | MD&A references first quarter 2004 severance payments and a net FTE staff reduction of approximately 240 employees from March 31, 2003 to March 31, 2004 (year-over-year net change, not a quarterly action count). No discrete quarterly headcount figure or restructuring charge is disclosed. | |||||
| 2004-03-31 | restructuring | completed | 240 | 2004-03-31 | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Reduction in staff size of approximately 240 employees from March 31, 2003 to March 31, 2004; associated with first quarter 2004 severance payments. | |||||
| 2003-12-31 | restructuring | completed | 2003-06-30 | United States (Michigan, California, Texas) | Banking subsidiaries | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | On June 30, 2003 Comerica merged its California and Texas banking subsidiaries into its Michigan banking subsidiary to create one bank. No employees affected, severance charge, or headcount impact is disclosed; no restructuring charges were recorded in 2003 (restructuring charges line shows nil for 2003 and 2002). | ||||
| 2002-12-31 | divestiture_reduction | completed | United States | Other | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Official Payments Corporation (OPAY), a 55 percent owned consolidated subsidiary, completed in the third quarter of 2002; associated headcount not disclosed. | |||||
| 2002-12-31 | restructuring | completed | United States | Collateralized lending; technology and life sciences lending; asset management | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Filer reports merging or streamlining several business units during 2002; no headcount, timeline, or charge quantified. No restructuring charges were recorded in 2002. | |||||
| 2002-12-31 | restructuring | completed | 352 | 2001-01-01 | 2002-12-31 | United States | Corporate support and data processing | USD 148 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Related to Imperial Bancorp acquisition. 352 employees terminated in 2001. Liability fully settled by year-end 2002. | |
| 2002-09-30 | restructuring | completed | 352 | 2001 | 2002-09-30 | Corporate support and data processing | USD 148 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Related to Imperial Bancorp acquisition. 352 employees terminated in 2001. Liability fully paid by Q3 2002. | ||
| 2002-06-30 | restructuring | in_progress | 11 | 2001-01-01 | 2002-09-30 | Official Payments Corporation (OPAY) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Remainder of 11 expected OPAY terminations (44 total plan, 33 completed in 2001) expected in Q3 2002. No additional charges expected. | |||
| 2002-03-31 | restructuring | in_progress | 11 | 2002-06-30 | United States | Official Payments Corporation (OPAY) | USD 2 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | OPAY restructuring plan totals 44 employees to be severed; 33 occurred in 2001, remainder expected in Q2 2002. Remaining restructuring reserve at 3/31/02 was $2 million. Charge included $1M severance and $3M facilities/operations. | ||
| 2002-03-31 | restructuring | completed | 352 | 2001-12-31 | United States | Primarily senior management, corporate support, and data processing | USD 173 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp acquisition restructuring; terminations completed in 2001. Remaining reserve of $4 million at 3/31/02 with $4 million cash outlays during Q1 2002. Expected annual operating expense savings of $60 million beginning 2002. | ||
| 2002-03-31 | restructuring | in_progress | 352 | 2001-01-29 | Corporate support and data processing | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Imperial Bancorp acquisition restructuring. 352 employees terminated in 2001. Remaining liability of $4 million at March 31, 2002. | ||||
| 2002-03-31 | restructuring | in_progress | 44 | 2002-06-30 | Corporate support and product development | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Official Payments Corporation (OPAY) restructuring. 33 employees severed in 2001, 11 expected in Q2 2002. Remaining liability of $2 million at March 31, 2002. | ||||
| 2001-12-31 | acquisition_addition | completed | 2001-01-29 | 2001-01-29 | United States (California) | Banking | USD 173 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp acquisition completed 2001-01-29; headcount added not separately disclosed. Pre-tax merger-related and restructuring charge of $173M ($128M after-tax) recorded in 2001. | ||
| 2001-12-31 | restructuring | completed | 352 | 2001-12-31 | United States | Corporate support and data processing functions; primarily senior management | USD 35 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 352 employees terminated in 2001 under Imperial integration restructuring; employee termination costs of $35.2M (severance, outplacement, other benefits). Integration completed Q4 2001; no additional Imperial-related charges expected. Total Imperial restructuring charge $173M including $148M in noninterest expenses and $25M in provision for credit losses. | ||
| 2001-12-31 | restructuring | in_progress | 44 | 2001-10-01 | 2002-12-31 | United States | Official Payments Corporation (OPAY) — corporate support and product development | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Charge recorded in Q4 2001, shown net of minority interest share. 33 of 44 expected severances occurred in Q4 2001; remainder to occur during 2002. Expected annual operating expense reduction of $9M beginning 2002. | |
| 2001-12-31 | divestiture_reduction | completed | 2001-06-30 | United States (California) | Merchant bankcard business (Imperial) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Imperial's merchant bankcard business divested in Q2 2001, required under an existing Comerica alliance agreement; headcount removed not disclosed. Gain included in merger-related and restructuring charges. | ||||
| 2001-12-31 | restructuring | completed | 352 | 2001-01-29 | 2001-12-31 | United States | Corporate support and data processing | USD 148 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Related to Imperial Bancorp acquisition. Integration completed in Q4 2001. | |
| 2001-12-31 | restructuring | in_progress | 44 | 2001-10-01 | 2002-12-31 | United States | Corporate support and product development | USD 4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Related to Official Payments Corporation (OPAY) subsidiary. 33 employees severed in Q4 2001; remaining severances expected in 2002. | |
| 2001-09-30 | restructuring | in_progress | 360 | 2001-01-29 | 2001-12-31 | United States | Corporate support and data processing functions; primarily senior management | USD 169 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp merger integration. 244 of 360 expected terminations occurred in nine months ended 2001-09-30. Total restructuring charges expected to reach $169M by end of integration. Includes severance, outplacement, and other benefits. | |
| 2001-09-30 | acquisition_addition | completed | 2001-01-29 | United States | Banking operations | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp, a $7 billion bank holding company, acquired 2001-01-29. Headcount added through acquisition not separately disclosed. | ||||
| 2001-09-30 | restructuring | in_progress | 360 | 2001-01-29 | 2001-12-31 | United States | Corporate support and data processing | USD 152 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Related to Imperial Bancorp acquisition. 244 terminations occurred in the nine months ended Sept 30, 2001. Total expected charges $169 million. | |
| 2001-06-30 | restructuring | in_progress | 350 | 2001-01-29 | 2002-03-31 | United States | Primarily senior management and corporate support and data processing functions | USD 169 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp merger integration. Approximately 350 employees expected to be terminated; 107 separations occurred in the six months ended June 30, 2001. Total restructuring charges expected to reach $169M by end of integration, targeted for completion in Q1 2002. Charges to date: $134M for six months ($25M in provision for credit losses, $109M in noninterest expenses). | |
| 2001-06-30 | restructuring | in_progress | 350 | 2001-01-29 | 2002-03-31 | Corporate support and data processing | USD 134 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Related to Imperial Bancorp acquisition. 107 employees terminated in the six months ended June 30, 2001. Total expected charges $169 million. | ||
| 2001-03-31 | restructuring | in_progress | 350 | 2001-01-29 | 2002-03-31 | United States | Primarily senior management, corporate support, and data processing functions | USD 119 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp merger restructuring. Approximately 350 employees expected to be terminated; 4 occurred in Q1 2001. Q1 charge of $119M includes $30M employee termination, $29M employee-related (change-in-control and retention), $44M conforming policies, $2M facilities/operations, $14M other. Total expected restructuring charges of $169M by end of integration targeted for Q1 2002. Annual noninterest expense savings of $60M expected upon completion. | |
| 2001-03-31 | restructuring | in_progress | 350 | 2001-01-01 | 2002-03-31 | Corporate support and data processing | USD 119 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Merger-related restructuring for Imperial Bancorp acquisition. 350 employees expected to be terminated; 4 occurred in Q1 2001. Total expected charges $169 million by completion. | ||
| 2000-12-31 | divestiture_reduction | completed | 234 | United States | Individual Bank | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Full-time equivalent employees decreased by 234 (2%) from year-end 1999, primarily due to forming the bankcard and revolving check credit alliance. Reported as FTE change, not headcount. | ||||
| 2000-12-31 | acquisition_addition | completed | 2000-11-01 | 2001-01-29 | United States | USD 169 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Imperial Bancorp merger completed January 29, 2001; combined company assets ~$50 billion. Pre-tax merger-related and restructuring charge of ~$169M ($119M after-tax) expected in 2001. Employee headcount added not disclosed. | |||
| 2000-12-31 | other | completed | -234 | 2000-01-01 | 2000-12-31 | United States | Individual Bank | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Decrease in full-time equivalent employees primarily due to forming bankcard and revolving check credit alliance. | ||
| 2000-09-30 | restructuring | announced | 2000-11-01 | United States | USD 145 (millions) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pre-tax, merger-related restructuring charge anticipated in connection with the announced Imperial Bancorp share exchange merger; no employee count disclosed. Merger expected to close in Q1 2001, subject to regulatory and shareholder approvals. | ||||
| 1999-12-31 | restructuring | completed | 1996 | 1999-12-31 | Global | Corporate | USD -7 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Direction 2000 program initiated in 1996. A reduction of $7 million was recorded in 1999 to eliminate the remaining restructuring liability. | ||
| 1998-12-31 | restructuring | completed | 1,890 | 1996-01-01 | 1998-03-31 | United States | Enterprise-wide | USD 90 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Direction 2000 program; 1,890 positions eliminated cumulatively (about 15% of positions at year-end 1996); 300 new positions created during implementation; $90M pre-tax charge recorded in 1996; $22M charged against reserve in 1998; program completed Q1 1998 | |
| 1998-12-31 | acquisition_addition | completed | 1998-07-01 | 1998-07-01 | United States | Investment Bank | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Munder Capital Management majority interest obtained July 1998; FTE increased 174 (2%) from year-end 1997, primarily due to Munder; headcount not separately disclosed for acquisition | |||
| 1998-12-31 | divestiture_reduction | completed | 1998-04-01 | 1998-06-30 | United States | Individual Bank | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of mortgage servicing business and $2.0 billion of indirect consumer loans and non-relationship credit card receivables in Q2 1998; headcount impact not disclosed | |||
| 1998-12-31 | restructuring | completed | 1,890 | 1996-01-01 | 1998-03-31 | United States | Corporate / All Segments | USD 90 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Program initiated in 1996, fully implemented by end of Q1 1998. Eliminated 1,890 positions (approx. 15% of 1996 headcount). 300 new positions created during reinvestment. Total pre-tax charge of $90 million recorded in 1996. | |
| 1998-12-31 | acquisition_addition | completed | 174 | 1998-07-01 | 1998-07-01 | United States | Investment Bank | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Consolidation of Munder Capital Management in July 1998 resulted in increase of 174 full-time equivalent employees. | ||
| 1997-12-31 | restructuring | in_progress | 1,890 | 1996-01-01 | 1998-03-31 | United States | Enterprise-wide | USD 90 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Direction 2000 program; 1,890 positions identified for elimination (cumulative through FY1997). As of 1997-12-31 all but ~300 eliminated. $90M charge recorded in 1996; $61M charged against reserve during 1997. 300 new positions created during implementation. | |
| 1997-12-31 | divestiture_reduction | completed | United States | Bond indenture services business | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of bond indenture services business in 1997 with $23M pre-tax gain; no headcount disclosed | |||||
| 1997-12-31 | restructuring | in_progress | 1,890 | 1996-01-01 | 1998-03-31 | United States | Corporate and Support Functions | USD 90 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Phase III of Direction 2000 program initiated in 1996. 1,890 positions identified for elimination by end of Q1 1998. As of Dec 31, 1997, all but approx 300 positions eliminated. 300 new positions created during implementation. $61M of costs incurred in 1997 against reserve. | |
| 1997-09-30 | restructuring | in_progress | USD 40,837 (thousands) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | A restructuring charge of $40,837 thousand appears as a non-cash adjustment in the nine months ended September 30, 1997 cash flow statement. No narrative, employee counts, severance detail, or completion timing is disclosed anywhere in the filing. | ||||||
| 1997-03-31 | restructuring | in_progress | USD 15,386 (thousands) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | A restructuring charge of $15,386 thousand is shown as an operating adjustment for the three months ended March 31, 1997; no restructuring footnote, employee count, or completion timing is disclosed in this filing. | ||||||
| 1997-03-31 | divestiture_reduction | completed | Bond indenture services business | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | MD&A reports a $17 million pre-tax gain on the sale of the bond indenture services business in Q1 1997; no associated headcount reduction is quantified. | ||||||
| 1996-12-31 | restructuring | in_progress | 1,900 | 15% | 1998-06-30 | United States | Corporate-wide | USD 90 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Direction 2000 Phase III; nearly 1,900 positions (~15% of total) being eliminated; charge includes $48M termination benefits, $21M occupancy/equipment, $21M other; expected annualized benefits of $110M; employee count from MD&A, charge from Note 15 | |
| 1996-12-31 | acquisition_addition | completed | 1996-01-16 | California | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Metrobank acquired for approximately $125 million in common stock; $1.1 billion in assets; employee headcount not disclosed | |||||
| 1996-12-31 | divestiture_reduction | completed | 1996-03-18 | 1996-08-18 | Illinois | Banking | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Comerica Bank-Illinois sold to ABN-AMRO; approximately 4% of total assets; received approximately $160 million; employee headcount not disclosed | |||
| 1996-12-31 | divestiture_reduction | completed | 1996-04-12 | 1996-05-18 | California | Customs brokerage and freight forwarding | USD 9 (millions) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | John V. Carr & Son, Inc. sold to AEI Radix Custom Brokerage Services; $9 million pre-tax charge recorded; employee headcount not disclosed | ||
| 1996-12-31 | restructuring | completed | 1,900 | 15% | 1996-01-01 | 1998-06-30 | Global | Corporate / All Lines of Business | USD 90 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Part of 'Direction 2000' strategic effort. Charge included $48M termination benefits, $21M occupancy/equipment write-offs, $21M other costs. Expected to reduce overhead costs and increase revenues by $110M annually when fully implemented by first half of 1998. |
| 1996-09-30 | acquisition_addition | completed | 1996-01-31 | United States (Los Angeles, California) | Banking | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Metrobank acquisition completed January 1996 for $125 million in common stock; added $1.2 billion assets, $700 million loans, $1 billion deposits. Headcount added not disclosed. | ||||
| 1996-09-30 | divestiture_reduction | completed | 1996-08-02 | 1996-08-02 | United States (Illinois) | Banking subsidiary (Comerica Bank-Illinois) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Illinois subsidiary sold for approximately $160 million cash; reduced total assets $1.3 billion, loans $765 million, deposits $986 million. Headcount removed not disclosed. | |||
| 1996-09-30 | divestiture_reduction | completed | 1996-05-18 | 1996-05-18 | United States | Customs brokerage and freight forwarding (John V. Carr & Son, Inc.) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of the business and certain assets of the wholly owned customs brokerage subsidiary. Headcount removed not disclosed. | |||
| 1996-06-30 | acquisition_addition | completed | 1996-01-01 | United States (Los Angeles, California) | Banking | USD 125 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Metrobank acquired for $125 million in common stock; contributed $1.2 billion assets, $700 million loans, $1 billion deposits, and $18 million nonperforming assets. No employee headcount disclosed. | |||
| 1996-06-30 | divestiture_reduction | completed | 1996-08-02 | United States (Illinois) | Banking subsidiary (Comerica Bank-Illinois) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Illinois subsidiary with $1.4 billion in assets sold for approximately $190 million cash on August 2, 1996 (after quarter end). No employee headcount disclosed. | ||||
| 1996-06-30 | divestiture_reduction | completed | 1996-05-18 | United States | Customs brokerage and freight forwarding (John V. Carr & Son, Inc.) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Business and certain assets of the wholly owned customs brokerage subsidiary sold on May 18, 1996. No employee headcount disclosed. | ||||
| 1996-06-30 | restructuring | in_progress | United States | Enterprise-wide | USD 3 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q2 1996 noninterest expense included $3 million of charges under a previously announced internal efficiency improvement program; no employee-impact count or completion date disclosed. | ||||
| 1996-03-31 | acquisition_addition | completed | 1996-01-31 | United States (Los Angeles, California) | Banking | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Metrobank acquired for $125 million in stock; contributed $1.2B assets, $700M loans, $1.0B deposits. No employee headcount disclosed. | ||||
| 1996-03-31 | divestiture_reduction | announced | 1996-03-31 | 1996-09-30 | United States (Illinois) | Comerica Bank-Illinois subsidiary | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement in March 1996 to sell the $1.4 billion Illinois subsidiary for about $190 million cash, subject to regulatory approval; no headcount disclosed. | |||
| 1996-03-31 | divestiture_reduction | announced | 1996-04-30 | 1996-06-30 | United States | John V. Carr & Son, Inc. — customs brokerage and freight forwarding subsidiary | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | April 1996 agreement to sell the customs brokerage subsidiary; sale expected to close in Q2 1996. No headcount disclosed. | |||
| 1996-03-31 | restructuring | in_progress | United States | Enterprise-wide | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 1996 noninterest expenses included $6 million for a previously announced internal efficiency improvement program plus legal reserves; no employee count or severance amount separately disclosed. | |||||
| 1995-12-31 | acquisition_addition | completed | 273 | United States | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | MD&A states 273 employees were added from 1995 acquisitions (University Bank & Trust, QuestStar Bank, Campbell, PLUS). Filer does not break out headcount by individual acquisition. | |||||
| 1995-12-31 | acquisition_addition | completed | 1996-01-16 | United States (California) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Metrobank acquisition completed January 16, 1996 (subsequent to fiscal year-end). Purchase price approximately $125 million in common stock. Headcount not disclosed. | |||||
| 1995-12-31 | divestiture_reduction | announced | 1996-03-18 | United States (Illinois) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell Comerica Bank-Illinois to ABN-AMRO announced March 18, 1996; expected to close Q3 1996. Assets represent approximately 4% of total assets. Headcount not disclosed. | |||||
| 1995-12-31 | acquisition_addition | completed | 273 | 1995-01-01 | 1995-12-31 | United States | Various | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Employees added from 1995 acquisitions. Net FTE decreased by 201 despite these additions. |