DUBLIN Nov 11 Permanent tsb, the banking unit
of Irish Life & Permanent IPM.I, is offering staff up to
35,000 euros ($45,140) to take "career breaks" in a bid to cut
costs, the company said on Tuesday.
"This is a flexible response to manage our staff costs over
the coming years and one where both the company and staff can
benefit," a spokesman said, confirming a report in the Irish
The bank offered employees up to 20,000 euros for a two-year
career break and up to 35,000 euros for a three-year break, the
paper said, adding it would appeal to younger employees among
the bank's 2,500 staff.
Bancassurance group Irish Life & Permanent IPM.L, which
will release a trading update on Wednesday, in August reported a
7 percent fall in first-half earnings and predicted that
full-year group operating profit would fall around 10 percent.
(Reporting by Andras Gergely; Editing by David Holmes)