Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The second-largest Polish commercial bank Bank Polska Kasa Opieki, commonly known as Bank Pekao, has announced that it will cut up to 1,100 jobs through a collective dismissal at its units across Poland by the end of June 2021. In addition, the employment contracts of 1,250 employees will be adjusted to new roles and wages. The restructuring programme will be implemented between late March and 30 June 2021, and the conditions of the programme will be negotiated with the local trade unions. The move is a response to the current condition of the banking sector in Poland, including the process of digitalisation. The restructuring programme is also related to the COVID-19 pandemic and its impact on the financial sector.
Bank Pekao was founded in 1929. Currently, the bank employs over 12,600 people.
The previous restructurings in the bank were announced in April 2019 (950 jobs cut) and February 2020 (1,200 jobs cut).
Eurofound (2021), Bank Polska Kasa Opieki, Internal restructuring in Poland, factsheet number 103915, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/103915.
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