While other companies are looking to cut costs to deal with the prolonged weakness in the economy, First Tennessee National Corp. is the latest banking company looking to add employees to provide extra service.
On Friday the Memphis-based company said that it is creating 150 new jobs, which would increase its banking work force by 6% and enable it to extend the operating hours at its full-service branches.
Beginning today, First Tennessee's traditional branches will be open from 8:30 a.m. to 6 p.m. on weekdays and from 9 a.m. to 1 p.m. on Saturdays. In-store branches will remain open until 7 p.m. on weekdays and 4 p.m. on Saturdays. The new jobs include full- and part-time tellers and customer service representatives.
Previously, the branch hours varied widely, a spokeswoman said. Some locations remained open late on Fridays, in many cases until 6 p.m., she said.
The extra hours in the evening and on Saturdays are "times our customers and potential customers have told us will be most convenient for them to visit First Tennessee and we're responding to their wishes," said Charles Burkett, president of retail financial services at First Tennessee in a press release.
Two other banking companies have recently announced details of hiring initiatives meant to keep their branches open later and on weekends.
Commerce Bancorp Inc., which already offers Sunday operating hours at certain locations, said this month that it plans to hire 9,000 people over the next five years to support a previously announced expansion plan. The Cherry Hill, N.J.-based company is building 290 branches.
Last month Bank One Corp. of Chicago said that it would expand in Phoenix by adding 32 branches and making 600 hires over the next two years.
