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
530 jobs Number of planned job losses
Announcement Date
20 August 2005
Employment effect (start)
Foreseen end date
Description
Bank Handlowy is planning to dismiss nearly 10% of its staff by the end of 2005. According to the bank, most of the employees targeted in the job cuts are staff working in the small companies sector. The firm justifies the reduction by saying that it will increase the bank's effectiveness. The company says that the details of the redundancy packages have already been decided upon with the trade unions.
Sources
22 August 2005: Gazeta Wyborcza
20 August 2005: Rzeczpospolita
Citation
Eurofound (2005), Bank Handlowy, Internal restructuring in Poland, factsheet number 62137, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62137.
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