Business Editor

Kevin Truong

The bank is hoping to sell up to $100 billion in assets in addition to heavy layoffs, real estate reductions and cuts to executive pay. 


Despite assurances that SVB is ‘open for business,’ the bank’s employees are still facing an uncertain future. 

A handful of key Silicon Valley Bank executives and shareholders lost big in the bank’s shocking collapse last week. 


The FDIC said salaried employees would get 1.5 times their current wages and hourly employees would get double their normal pay.

JPMorgan Chase laid off roughly 1,000 First Republic workers less than a month after acquiring the failed bank. 