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.
BPH Bank has announced that will cut 1,706 jobs at its units across Poland by the end of 2016. The company has announced a collective dismissal programme and it is the next wave of mass redundancies in BPH. Previous job reductions happened in 2009, 2010 and 2012.
The company explains its decision with the need to change the organisational structure in order to improve the bank's financial efficiency. According to the programme, 134 branches will be turned into a franchise, and further 65 will be closed or will operate in the cooperation with existing partners. BPH estimates that the restructuring will save PLN 200 million (EUR 44.5 million USD 48.3 million) each year from 2017 onwards. BPH Bank owns 253 branches and it also operates in 172 partner branches across the country.
Eurofound (2015), BPH Bank, Internal restructuring in Poland, factsheet number 86271, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86271.
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