Report: BancorpSouth offering early retirements
According to the Arkansas Business, BancorpSouth Inc. is asking for voluntary early retirements for some of its workers.
The article says the Tupelo-based financial holding company and parent of BancorpSouth Bank is making the offers to those 60 and over and with 10 consecutive years of experience with the company.
Arkansas Business also quoted a BancorpSouth spokesman who confirmed a memo had been sent “internally” to offer the early retirement packages.
UPDATE: We sent BancorpSouth officials some questions to follow up on the report, but they referred back to the statement given to Arkansas Business.
The full statement says, “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.”