The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.1 - Monetary intermediation
100 jobs Number of planned job losses
Announcement Date
26 April 2012
Employment effect (start)
Foreseen end date
Description
Bank and financial service provider Permanent TSB has announced 100 job losses and the possible closure of branches due to internal restructuring. Officials had been considering whether the bank, which is majority nationalized, could operate as a separate entity or should be merged with other financial institutions.
It is understood that job losses would have been higher if the bank was subject to merger. Currently, Permanent TSB employs 1,800 people.
Currently, there is no timeline for the restructuring, but details will be included in a restructuring plan presented in June.
Sources
27 April 2012: The Irish Independent
Citation
Eurofound (2012), Permanent TSB, Internal restructuring in Ireland, factsheet number 73586, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73586.
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