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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.9 - Other financial service activities, except insurance and pension funding
1,119 jobs Number of planned job losses
Announcement Date
24 January 2022
Employment effect (start)
24 January 2022
Foreseen end date
31 December 2022
Description
Polish financial intermediary company Open Finance is to cut 1,119 jobs through a collective dismissal programme across Poland by the end of 2022. Job cut involves 100 percent of all the employees. The conditions of the restructuring programme will be negotiated with the employee representatives.
In December 2021, Open Finance filed for bankruptcy with the Warsaw Court, due to a significant deterioration in the company's financial situation.
Open Finance has been operating since 2004 as a part of Polish financial group Getin Holding, and has been one of the largest financial intermediaries on the Polish market.
A previous restructuring programme was announced in April 2020, with 380 jobs cuts.
Eurofound (2022), Open Finance, Bankruptcy in Poland, factsheet number 106265, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106265.
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