The CEO of the company Jeremy Masding told the Oireachtas Joint Committee on Finance the bank would unveil details of its restructuring plan next week.
However, it is understood the Permanent TSB will cut 20 of its 92 branches. However, Mr Masding would not comment on the level of closures today.
He said the job losses would be achieved through a voluntary severance scheme but he would not put a number on the redundancies.