Restructuring events
European Restructuring Monitor (ERM)
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.
The second-largest Polish commercial bank, Bank Polska Kasa Opieki, commonly known as Bank Pekao, has announced that it will cut up to 950 jobs through a collective dismissal at its units across Poland. In addition, 620 employees will have their terms of employment changed, including changes in posts and salaries. The programme will be operational between April and October 2019. The move is a response to the current condition of the banking sector in Poland, including the process of digitisation, increasing regulations, taxations and capital demands. Employment in the Polish banking sector has been falling steadily for the past few years; it dropped by 2,900 posts in 2018.
Bank Pekao was founded in 1929. Currently, the bank employs over 16,700 people at its all subsidiaries across the country.
Eurofound (2019), Bank Polska Kasa Opieki, Internal restructuring in Poland, factsheet number 97615, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97615.