400 jobs at risk as TSB annouces store closures

400 jobs at risk as TSB annouces store closures

Published by George Sharpe at 3:04pm 25th November 2019. (Updated at 3:15pm 25th November 2019)

TSB's announced it's closing 80 of it's branches, putting up to 400 jobs at risk.

It's not currently known if the Dorchester will be affected. Branch closures will be announced on Thursday, after employees are informed.

The announcement came alongside their new strategy and financial targets for their 2022 strategic plan.

The bank says it's focusing on cutting costs and boosting profits.

TSB's CEO Debbie Crosbie said:

"Our new strategy positions TSB to succeed in a challenging external environment at a time when we know customers want something different and better from their bank.

“With a trusted brand, modern platform, and national presence, TSB is well placed to deliver – but we need to make changes to enable us to compete.

“The plan we’re sharing today involves some difficult decisions, but it sets TSB up to succeed in the future. Taken together, these changes will help us to serve more customers, better, for the long-term.”

Last week, an independent investigation found TSB's board lacked 'common sense', in the lead-up to a major IT meltdown. 

It locked two-million people out of their accounts in April 2018.