TSB to shut Salisbury branch next year

SALISBURY’S TSB branch will shut next year, the bank has announced today.

Bosses have earmarked October for the closure.

In total 82 branches will be binned nationwide, with 300-400 staff affected.

However, TSB said it will try to find new roles for them elsewhere in the group.

It comes as part of a three-year restructure of the company to make it “a more technology-enabled and innovative business”.

This, bosses add, will save around £100 million by 2022, and turn a profit of between £130 million and £140 million.

Four other branches in the South West will also be closed during 2020, which are: Moreton-in-Marsh; Okehampton; Stroud; and Poole.

Robin Bulloch, customer banking director at TSB, said: “We have made the difficult decision to close some of our quieter branches and will fully support customers through this transition.

“We realise this is difficult news for our branch partners and will do everything to support those affected to redeploy as many people as we can to other roles and keep compulsory redundancies to a minimum.”

A statement from the bank added: “By making the difficult decision to close five branches in the South West, TSB will be better able to invest for its customers. “

This includes a push to invest another £120 million in digital products.

The bank said it expects 70% to 80% of its sales to come from digital channels by 2022, up from 46% in September this year.

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