TSB mulls bonus docking after pushing back gender balance targets
TSB is planning to dock bonuses for its bosses after missing gender balance targets, according to reports.
The bank has pushed back its deadline to ensure women hold roughly half of the senior jobs by five years.
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TSB’s remuneration committee is set to decide pay for senior figures in the New Year based on performance, but the Guardian has reported that both executives and managers for 2019 will be docked for failing to meet the 2020 target.
“TSB takes gender diversity very seriously,” a spokesperson said.
The group said this morning that its new target is for between 45-55 per cent of senior roles to be held by women by 2025.
Earlier this year the company drafted in Debbie Crosbie as its first female chief executive after Paul Pester stepped down in the aftermath of a major IT meltdown.
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However, the overall proportion of women in senior positions has slipped from 41 per cent in 2017 to 38 per cent.
The news comes days after TSB revealed the locations of 82 branches that it plans to close next year as part of a £100m cost-cutting plan.
The bank has sought to boost its balance sheet after suffering an IT fiasco in 2018 which affected 1.9m customers.