120 jobs to go at Permanent TSB
Wednesday, 2 December 2009 16:52120 jobs are to be cut at Permanent TSB under a voluntary severance scheme as the bank reduces its number of branches from 103 to 92.
The affected staff will receive 7.25 weeks pay for each year of service to the bank.
Late last year PTSB offered staff paid career breaks in an effort to cut costs.
Today's announcement that it is closing 11 branches follows the closure of its network of 48 'tied agents' earlier this year.
In a statement his afternoon the UNITE trade union said that its members had agreed to incentivised career breaks, comprehensive redeployment and an effective recruitment embargo.
The statement said: 'We do feel let down and disappointed at this requirement to close branches with consequent redundancy, and inevitable disruption and redeployment for those members remaining with the organisation'.
