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 64.1 - Monetary Intermediation
1,600 jobs Number of planned job losses
Announcement Date
19 June 2024
Employment effect (start)
19 June 2024
Foreseen end date
31 December 2025
Description
NatWest Bank, a British commercial bank, is ending its operations in Poland, resulting in the termination of all 1600 employees' contracts.
The decision will be implemented in phases where 45% of job positions will not be renewed and 55% will be transferred to branches in the UK and India, so effectively, all employees will lose their jobs in the Poland branch. The bank plans to conclude its operations in Poland by the end of 2025. 1/3 of employees (approx. 530 people) will be made redundant in the next 3 months, until September of 2024.
NatWest, with a head office in London in the UK, has been focusing on various financial services in Poland, and plans to fully transit to private ownership.
Eurofound (2024), NatWest Bank, Internal restructuring in Poland, factsheet number 201352, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201352.
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