Bank Pocztowy announced that it will conduct mass layoffs, which will affect no more than 235 people. The company’s management affirmed that “in light of the current macroeconomic situation, restructuring employment is a necessary measure on which to restore the bank’s operational profitability”.
Mass layoffs will take place from May 2021 to September 30. According to the announcements, the operation will cover both Pocztowy Bank headquarters employees and the distribution network.
Today, in accordance with the law of March 13, 2003 regarding the rules for terminating employment relations with employees for reasons not related to employees, appropriate notification of the intention to implement the dismissal will be sent to the trade unions for public consultations – this was announced in Thursday’s statement.
Class discussions will take place for the 20 days required by law and will end in May of this year. Labor offices will also be notified of deaths of the employment cut, which will begin in May.
Reasons for layoff
The board of directors of Pocztowy Bank reported that “the reason for the planned mass layoffs was the deterioration of the bank’s financial results, as well as the anticipation of further potential losses”.
“Given the high level of macroeconomic uncertainty, in the face of the COVID-19 pandemic and its associated low sales and lower interest rates, poor financial results may persist in future periods. These conditions make, in the opinion of the Pocztowy Bank’s Board of Directors an indispensable measure. To restore the bank’s sustainable operational capacity. “
As it has been added, the announced mass layoffs are part of the remedial measures in the area of profitability set out in Bank Pocztowy’s recently implemented reform plan.
In the board’s opinion, the mass layoff process is also a derivative of changes in the banking sector – which have been accelerated by the digitization pandemic and customers withdraw from fixed branches to online banking – forcing banks to reorganize.
It started last month The mass layoff process at Pekao Bank. No more than 1,110 employees lose their jobs, and a change in employment will not affect more than 1,250 people.
At the end of last year, we reported that BNP Paribas Polska completed the negotiations With trade unions on the rules for a mass layoff. As we can read in the bank’s announcement, the employment cut was scheduled to start on January 1, 2021 and will continue until December 31, 2023. It does not cover more than 800 employees.
In October, Santander Group management announced the implementation of the savings plan. The job cuts are expected to save € 1 billion. Santander Bank Polska intends to launch up to 2,000 by the end of 2022. PeopleOr about 19 percent of all bank employees.
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