EMCC European Monitoring Centre on Change

Komerční banka (KB)

Komerční banka (KB)

Geographic Location

Country: Czechia


Sector: Financial services
Financial and insurance activities
64.19 - Other monetary intermediation
Number Employed: 7200
Group: Société Générale

Employment Effects

Announcement Date: 05-01-2021
Planned Job Reductions min: 200
Planned Job Reductions max: 250
Type of Restructuring: Internal restructuring
Foreseen End Date: 30-06-2021

Additional Information

Komerční banka (KB), the third largest bank in the Czech Republic, will reduce the number of employees by approximately 3.5%, i.e. by about 250 people, during the first half of 2021. Restructuring measures are taken in the context of continuing pandemic situation and its significant negative impact on economic activity.
More than two thirds of redundancies will be implemented at the head office. It is expected that about 20% of employees from cancelled positions will find another placement in the bank. In accordance with applicable labour regulations, KB's trade union has been informed on the staff restructuring plan. 
Komerční banka is part of the Société Générale group and currently has 7,200 staff.