Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2022), Open Finance, Bankruptcy in Poland, factsheet number 106265, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106265.
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