EMCC European Monitoring Centre on Change

Santander Bank Polska

Company/Organisation:
Santander Bank Polska

Geographic Location

Country: Poland

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 10500
Group: Santander

Employment Effects

Announcement Date: 29-10-2020
Planned Job Reductions min: 2000
Type of Restructuring: Internal restructuring
Employment Effect Start: 29-10-2020
Foreseen End Date: 31-12-2022

Additional Information

Santander Bank Polska, a multinational commercial bank and financial services company and a subsidiary of the Spanish bank Santander, announced that it will cut up to 2,000 jobs throughout a collective dismissal programme at its units across Poland. The dismissal programme is expected to finish by the end of 2022. The programme will affect both employees at the headquarters and in distribution chain. The cost-saving and restructuring programme is related to the COVID-19 pandemic; the programme aims to save around €1 billion. Behind Santander's decision to reduce its employment capacity is also digitalisation of the banking sector and growing fiscal and regulatory burdens. The pandemic accelerated these changes. The management board informed that they were going to consult the dismissal process with the trade unions and to cooperate on the development of a protection package for dismissed employees.

In Poland, Santander has been operating since 2006. Currently, it employs about 10,500 people across the country.

A previous restructuring programme was announced in January 2019 (1,400 jobs cut).

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