UK lender, TSB reportedly cuts 120 jobs

Latest report shows that one of UK’s largest lender, TSB is cutting about 124 jobs as part of a restructuring at its head office.

According to Reuters News report which quoted an email sent to bank staff by its employee union earlier today.

The source from the union identified as Linda Crouch said that the restructuring will impact 366 people resulting in the net loss of 124 jobs.

However, a spokeswoman for the bank told Reuters that the bank did not recognise the job loss numbers cited in the union’s email.

She added that the bank was working with employees affected to redeploy as many as possible to other roles within the bank.