Regions Bank announces hundreds of layoffs

Alabama-based Regions Bank is making hundreds of job cuts.

The bank is laying off around 3% of its employees, or about 600 people. Regions has a work force of about 20,000.

The bank says the layoffs are in certain divisions, including the mortgage division, where fewer customers are seeking refinancing or home loans due to higher interest rates.

Regions says the layoffs are scattered throughout its multi-state service area and are not in any one place.