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 1,200 jobs through a collective dismissal at its units across Poland in 2020. In addition, the employment contracts of 1,350 employees will be adjusted to new roles and wages. The restructuring programme will be implemented between 12 March and 31 October 2020, 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 digitisation.
Bank Pekao was founded in 1929. The previous restructuring in the bank took place in April 2019 (950 jobs cut).
Eurofound (2020), Bank Polska Kasa Opieki, Internal restructuring in Poland, factsheet number 99846, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/99846.
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