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 Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66.1 - Activities auxiliary to financial services, except insurance and pension funding
600 jobs Number of planned job creations
Announcement Date
9 May 2012
Employment effect (start)
9 May 2012
Foreseen end date
15 May 2015
Description
On 9 May 2012, American provider of financial services for institutional investors State Street Corporation opened its second financial centre in Kraków and announced plans to create 600 new jobs within the next 3 years.
The company has been operating in Poland since 2007 and employs more than 1,000 people in the first Kraków office. State Street Corporation claims that the financial centres in Kraków are crucial for the global business strategy of the company.
State Street Corporation has offices in 26 countries and employs over 28,600 staff around the world. Its customers include mutual fund, collective investment funds, corporate and public pension funds, companies and non-profit organizations.
Sources
9 May 2012: Rzeczpospolita ()
Citation
Eurofound (2012), State Street Corporation, Business expansion in Poland, factsheet number 73541, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73541.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
