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 Polish lender Idea Bank Spółka Akcyjna, commonly known as Idea Bank, has announced that it will cut its workforce by half through a collective dismissal programme by the end of 2019. As a result, up to 750 jobs will be cut at the units across Poland, and the conditions of the programme will be negotiated with the representatives of employees. The programme aims at rationalising business processes and improving financial effectiveness. The bank estimates its annual savings in personnel costs at PLN 50 million (€11.75 million). In 2018, the bank posted a net loss of PLN 1.89 billion (€444.45 million). During the first three months of 2019, the loss amounted to PLN 81million (€19.05 million).
Eurofound (2019), Idea Bank Spółka Akcyjna, Internal restructuring in Poland, factsheet number 97989, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97989.
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