Lender is cutting jobs, but announcement smacks of an attempt to avoid giving a reason for the move
The drivel put out by PTSB this week has to be a front-runner for the gibberish of the year award. Photograph: Alan Betson
Announcing that it was introducing a voluntary redundancy programme, the company said: “Following a period of transformational growth, the bank is now undertaking a number of important strategic business transformation change initiatives to enable its strategy and improve organisational effectiveness and efficiency”.
Companies always need to keep an eye on costs and that would be imperative for a lender that continues to lag rivals AIB and Bank of Ireland on all fronts, not least in share price performance and running costs as a proportion of its income.
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