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
260 jobs Number of planned job losses
Announcement Date
7 January 2020
Employment effect (start)
1 February 2020
Foreseen end date
31 March 2020
Description
The Polish commercial bank Bank Millennium, owned by the Portuguese bank Millennium BCP, announced it will implement a collective dismissal programme affecting up to 260 positions across Poland. The programme will be carried out between 1 February and 31 March 2020 and its conditions will be negotiated with the local trade unions during three meetings scheduled for January 2020. The reduction measure comes as a consequence of the merger and acquisition of Euro Bank, which took place in May 2019.
Bank Millennium was established in 1989 as Bank Inicjatyw Gospodarczych BIG. In 1997, the bank merged with BCP. At the end of the third quarter of 2019, Millennium employed 8,564 staff, including 2,450 employees of Euro Bank.
Eurofound (2020), Bank Millennium, Internal restructuring in Poland, factsheet number 99667, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99667.
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