Following its collapse and subsequent acquisition by First Citizens Bank, hundreds of SVB employees were laid off yesterday.

In an email to employees yesterday, First Citizens Bank CEO Frank Holding Jr. called the layoffs “difficult but necessary actions to ensure that our workforce and costs are appropriate for a bank our size,” the San Francisco-based Triangle Business Journal reported.

The Boston Business Journal reported 13 people in Massachusetts were affected, all in corporate positions, and that First Citizen spokesperson Barbara Thompson said fewer than 500 employees in total were impacted. The Federal Reserve noted in March that the bank’s management team was largely to blame for the bank’s failure.

“For affected colleagues, our top priority is to provide a smooth transition,” Holding continued in his email. “To that end, all team members impacted by today’s staffing adjustments were notified this morning and will be invited to one-on-one conversations with HR and their managers today so they can better understand what this means for them.”

For its part, JPMorgan Chase, purchaser of the assets of failed First Republic Bank, promised workers “clarity” on their employment by next week.