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EXCLUSIVE: BankUnited CEO talks employee layoffs, future plans

Ashley Portero
EXCLUSIVE: BankUnited CEO talks employee layoffs, future plans

Days after the Business Journal broke the story that BankUnited would lay off workers, the company's CEO said the bank is cutting jobs and closing branches to ensure it survives the next decade. As BankUnited Inc. (NYSE: BKU) approaches its 10th anniversary, Chairman, President and CEO Raj Singh said the Miami Lakes-based community bank will eliminate an unspecified number of positions and shutter some branches. It's all part of its "BankUnited 2.0" strategy, which involves slashing $40 million in operating expenses and identifying $20 million in revenue by the end of 2020.