PKO BP

Type
Internal restructuring
Country
Poland
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
4,500 - 6,000 jobs
Number of planned job losses
Job loss
Announcement Date
16 November 2004
Employment effect (start)
Foreseen end date
31 December 2005

Description

In November 2004, the bank PKO BP announced it will cut employment by up to 4,500 people. Management said cuts are needed to reduce costs.

The bank increased in 2004 the number of its branches by 33 to 1,271. At the same time number of employees decreased by 933 people.

On June 2005 the bank announced further dismissals. A further 1,200 to 1,500 jobs will be cut in 2005.

Sources

  • 8 June 2005: Gazeta Wyborcza
  • 12 January 2005: Rzeczpospolita
  • 16 November 2004: Rzeczpospolita

Citation

Eurofound (2004), PKO BP, Internal restructuring in Poland, factsheet number 61011, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61011.