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 - Financial service activities, except insurance and pension funding
4,500 - 6,000 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61011.
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