Sinn Féin spokesperson on Finance, Pearse Doherty TD, has criticised the announcement of a voluntary redundancy scheme by PTSB and has called for an immediate explanation from the bank.

The 75% state-owned bank employed 2,465 people at the end of June at 98 locations across the state.

Teachta Doherty said:

“It is a body-blow for workers and customers that one of the three remaining traditional banks in the sector has chosen to announce a redundancy scheme a couple weeks before Christmas.

“For this to come at a time when we have seen banks making record profits from higher interest rates is completely unacceptable.

“This will be a source of real concern for all employees of the bank when they should be looking forward to Christmas and time with their families and friends.

“The fact that this has been announced without any prior engagement with trade unions that represent the workforce shows a complete lack of care or consideration.

“This is bad for staff and customers. I will be writing to the Central Bank demanding that they ensure that PTSB maintain adequate staffing levels. Fewer staff means reduced services and is a short-sighted approach to managing a profitable bank.

“Services and staff are already threadbare at most bank branches. That trend must be reversed. This government has repeatedly failed to stand up for workers and customers.

“The Minister must intervene and clearly set out expectations about adequate staffing and service levels.”