EMCC European Monitoring Centre on Change

BPH Bank

Company/Organisation:
BPH Bank

Geographic Location

Country: Poland
Location of affected unit(s): All Poland

Company

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

Employment Effects

Announcement Date: 30-12-2015
Planned Job Reductions min: 1706
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2016
Foreseen End Date: 31-12-2016

Additional Information

BPH Bank  has announced that will cut 1,706 jobs at its units across Poland by the end of 2016. The company has announced a collective dismissal programme and it is the next  wave of mass redundancies in BPH. Previous job reductions happened in 20092010 and 2012.

The company explains its decision with the need to change the organisational structure in order to improve the bank's financial efficiency. According to the programme, 134 branches will be turned into a franchise, and further 65 will be closed or will operate in the cooperation with existing partners. BPH estimates that the restructuring will save PLN 200 million (EUR 44.5 million USD 48.3 million) each year from 2017 onwards. BPH Bank owns 253 branches and it also operates in 172 partner branches across the country.