Posted 5/6/2013 12:00 am
Did you know that BancorpSouth Inc. has extended a voluntary early retirement offer to its staffers?
We heard the $13.4 billion-asset lender sent out a list to regional presidents of potential staffers eligible for the program: anyone over the age of 60 with 10 years consecutive service with BancorpSouth.
We understand regional presidents have discretion on who receives the early retirement offer and who doesn’t.
What will be the impact on the staff of the 54 BancorpSouth Bank branches in Arkansas?
Our query to the home office in Tupelo, Miss., produced this response:
“We can confirm that we have announced, internally, a voluntary early retirement program that management expects over time will improve the bank’s efficiency and reduce costs.
“We are unable to predict and do not want to speculate as to how many eligible employees will participate and what the financial impact of this program may be.
We will provide additional details when we have more definitive information. Otherwise, we have no comment about the program at this time.”
BancorpSouth operates 270 branches in eight states and employs more than 4,200, companywide.