Jack Quann
Jack Quann

13.52 6 Nov 2020


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Permanent TSB (PTSB) bank says it is to cut around 300 jobs in Ireland.

This is to be done through a voluntary severance scheme as part of a transformation programme at the company.

It says this is to reflect changes taking place in the economy, and the way which customers engage with them.

The programme will involve a review of the banks organisation structure, the introduction of smarter ways of working for staff and better use of branches.

The bank says it is too early to be "prescriptive" about the changes, but that a reduction of some 300 people is expected - which will be weighted towards management and head office functions.

Staff have been briefed and engagement will be held with representative bodies over the coming weeks.

A spokesperson said: "We have no plans to reduce the number of branches across the country and we will continue to modify and adapt our branch proposition to reflect changing customer behaviour and local needs."

However they added that PTSB will not renew its lease on its offices in Dublin's Park Place, given the space available at other locations.

This will see the bank leave Park Place in April of next year.

Main image: A Permanent TSB branch on O'Connell Street in Dublin. Picture by: Sam Boal/Rollingnews.ie

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Economy Job Cuts Jobs PTSB Park Place Permanent TSB Transformation Programme

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