TSB branch closures to put hundreds of jobs at risk
CALAMITY-HIT banktsb is poised to unveil hundreds of job cuts and branch closures tomorrow as part of a strategy overhaul from chief executive Debbie Crosbie.
It is believed that the bank, which on Friday suffered a fresh IT outage that stopped people from receiving wages or making payments, is looking to save up to £100 million a year through branch closures and redundancies.tsb has more than 500 branches nationwide and employs about 7,500 people.
It is thought that Crosbie will blame the move on the continued shift of customers towards online and smartphone-based banking, when she unveils the results of her strategic review.
The former Clydesdale andyorkshire Bank executive took over thetsb hot seat in May, succeeding Paul Pester.
Friday’s IT failure further harmed the previously good reputation OFTSB, which was sunk in April last year by a botched systems upgrade.the bank tried to migrate 5.2 million customers onto a new computer system over a weekend and locked 2 million of them out of their accounts for weeks.
A report from law firm Slaughter & May blamed bank directors and board members for not understanding what the project involved.