PITTSBURGH (KDKA) — BNY Mellon will reportedly be laying off more workers in Pittsburgh.

The Pittsburgh Business Times reported the news.

“We continue to optimize our global business structure to increase efficiency, enable faster decision-making and better serve our clients. As a result of these strategic actions, periodic staff reductions may occur,” a BNY Mellon spokesperson said in a statement to KDKA.

As of last year, BNY Mellon had around 7,000 employees in the Pittsburgh area, representing about one-eighth of the company’s workforce.

Shares of BNY Mellon have fallen by 20% over the last year.