PTSB to cut 300 job cuts under redundancy scheme launched last year

In October, the bank launched the voluntary redundancy scheme initially aimed at a cohort of senior managers and subsequently extended to all staff.

PTSB employs a total of about 3,000 workers, having hired hundreds in the past number of years as its business expanded including bringing in staff from Ulster Bank as part of the large scale takeover of parts of that bank before it shut down in the Republic.

On Friday, the bank said it is assessing applications for the redundancy scheme which could see 300 employees exit the business.

“Following receipt of applications to its Voluntary Severance Scheme, the Bank envisages that it could accommodate around 300 employees from across the Bank, exiting on a phased basis over 2025,” the bank said in a statement.

Today’s News in 90 Seconds – February 7th

“In considering individual applications, the Bank will ensure that a high standard of customer service is maintained.”

Outcomes will be communicated…

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Independent.ie