Type
Internal restructuring
Country
Ireland
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

250 - 350 jobs
Number of planned job losses
Job loss
Announcement Date
3 February 2011
Employment effect (start)
Foreseen end date

Description

Financial services company Permanent TSB plans to cut between 250 to 350 jobs, through voluntary redundancies. Some employees could be offered redeployment.

Permanent TSB currently employs 1,800 people and has 100 branches around the country. Permanent TSB has been the country's biggest mortgage lender. Now it is affected by a significant decline in revenue since the property bubble burst.


Sources

  • 3 February 2011: RTE

Citation

Eurofound (2011), Permanent TSB, Internal restructuring in Ireland, factsheet number 71554, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71554.