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.
A collective dispute has been initiated by the local trade union at Santander Consumer Bank in regard to an initiation of collective redundancies under a bank’s restructuring programme. According to the source, over 200 jobs are planned to be cut. The local trade union of banking and services employees Dialog 2005 informed that redundant employees should receive adequate severance pay and social protection covers.
Santander Consumer Bank, a multinational commercial bank and financial services company, is a subsidiary of the Spanish bank Santander. In Poland, Santander has been operating since 2006. The bank employed 2,500 employees in 321 units across Poland at the end of 2019.
Update 13/03/2020: Santander Consumer Bank has confirmed that it anticipates a collective dismissal programme. According to the bank, up to 430 positions will be cut by the end of March 2021. Reducing the employment capacity is part of the bank’s current strategy which focuses on digitalisation of customer relationships and automating processes.
Eurofound (2020), Santander Consumer Bank, Internal restructuring in Poland, factsheet number 99503, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/99503.
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