EMCC European Monitoring Centre on Change

Open Finance

Company/Organisation:
Open Finance

Geographic Location

Country: Poland

Company

Sector: Financial services
Financial and insurance activities
64.9 - Other financial service activities, except insurance and pension funding
Number Employed: 1119
Group: Getin Holding

Employment Effects

Announcement Date: 24-01-2022
Planned Job Reductions min: 1119
Type of Restructuring: Bankruptcy
Employment Effect Start: 24-01-2022
Foreseen End Date: 31-12-2022

Additional Information

Polish financial intermediary company Open Finance is to cut 1,119 jobs through a collective dismissal programme across Poland by the end of 2022. Job cut involves 100 percent of all the employees. The conditions of the restructuring programme will be negotiated with the employee representatives.

In December 2021, Open Finance filed for bankruptcy with the Warsaw Court, due to a significant deterioration in the company's financial situation.

Open Finance has been operating since 2004 as a part of Polish financial group Getin Holding, and has been one of the largest financial intermediaries on the Polish market.

A previous restructuring programme was announced in April 2020, with 380 jobs cuts.

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