PTSB targets job cuts with voluntary redundancy scheme
It’s been rumoured that hundreds of jobs could be targeted in the cull, but the bank has declined to say how many staff it is hoping to ditch. The scheme is open to staff until the middle of January.
In October, the bank launched a voluntary redundancy scheme aimed at a clutch of senior managers. However, the scheme has now been extended to all staff.
“PTSB is broadening out the scope of a recently announced voluntary redundancy scheme in light of expressions of interest from employees,” said a spokeswoman for the bank, which is still majority-owned by the State.
They added: “Following a period of transformational growth, the bank is now undertaking a number of important strategic business transformation change initiatives to enable its strategy and improve organisational effectiveness and efficiency. These initiatives will ensure that the bank’s business model is both robust and sustainable into the future.”
But the FSU has blasted the decision.
“There has been no…
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