EMCC European Monitoring Centre on Change

Bank Przemysłowo-Handlowy (BPH)

Company/Organisation:
Bank Przemysłowo-Handlowy (BPH)

Geographic Location

Country: Poland

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation

Employment Effects

Announcement Date: 17-04-2012
Planned Job Reductions min: 600
Planned Job Reductions max: 600
Type of Restructuring: Internal restructuring
Foreseen End Date: 30-11-2012

Additional Information

On 17 April 2012, BPH (Bank Przemysłowo-Handlowy) announced plans to cut up to 600 jobs in Poland by the end of November 2012. Since 2009 this is the third wave of dismissals in BPH.

The company is to negotiate the conditions of the restructuring programme with local trade unions. The bank declared that the employees affected by the cuts will receive a severance pay.

The company explains its decision by the need to change the organisational structure in order to improve the bank's financial efficiency.