EMCC European Monitoring Centre on Change

MONETA Money Bank

MONETA Money Bank

Geographic Location

Country: Czechia


Sector: Financial services
Financial and insurance activities
64.9 - Other financial service activities, except insurance and pension funding
Number Employed: 2800

Employment Effects

Announcement Date: 16-11-2022
Planned Job Reductions min: 100
Planned Job Reductions max: 300
Type of Restructuring: Internal restructuring
Employment Effect Start: 16-11-2022
Foreseen End Date: 01-06-2023
Direct Dismissals: 100
Other Job Reduction Measures: 200

Additional Information

Czech banking institution, MONETA Money Bank, has announced to cut around 100 jobs out of the 2,800 staff by the end of 2022. Another 200 cuts should be carried out by the middle of 2023. The main reasons are the continuous efforts to increase productivity, the windfall tax, which is a tax on excessive profits, approved by the government in order to help companies and households deal with the energy crisis, and the need to minimize the pressure from inflation on the total amount of costs.