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Irish bank PTSB to cut more than 10% of staff

DUBLIN, Nov 6 (Reuters) - Ireland’s permanent tsb (PTSB) plans to cut more than 10% of its staff through a voluntary redundancy scheme mainly aimed at management and head office roles, a spokeswoman for the bank said on Friday.

Other Irish banks have reduced staff numbers this year. The country’s largest lender, Bank of Ireland, said last week that it will cut its workforce by around 13% after completing an oversubscribed voluntary scheme.

PTSB said it anticipated 300 employees would leave through its scheme. The 75% state-owned bank employed 2,465 people at the end of June.

It said it had no plans to reduce its number of branches but did not intend to renew a lease in one of its central Dublin offices, which it has primarily used for arrears management, as it looked at “smarter ways of working for staff”. (Reporting by Padraic Halpin; Editing by Alexander Smith)

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