Home Business NewsBusinessBanking News TSB set to close 82 branches throughout 2020

TSB set to close 82 branches throughout 2020

by LLB Reporter
25th Nov 19 1:43 pm

Another blow to the high street has been announced on Monday as TSB are set to close 82 branches across the UK placing up to 400 jobs at risk.

The bank said they are to refocus on profits and will implement automated processes replacing workers.

In the coming days staff across the 82 branches will be told if their bank is affected and on Thursday TSB will publish the list of sites to be closed.

The banks plans to close the less busy branches in an attempt to save around £100m by 2022 and hope to turn a profit up to £140m.

TSB boss Debbie Crosbie said, “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.”

She added, “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.

“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.”

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