The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
200 - 250 jobs Number of planned job losses
Announcement Date
5 January 2021
Employment effect (start)
Foreseen end date
30 June 2021
Description
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.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
