GE Money Bank

Type
Merger/Acquisition
Country
Poland
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
568 jobs
Number of planned job losses
Job loss
Announcement Date
12 January 2005
Employment effect (start)
Foreseen end date
31 December 2005

Description

GE Capital Bank and GE Bank Mieszkaniowy merged, creating GE Money Bank. This merger is a result of General Electric global strategy that links companies operating on the same market and having similar or complementary profiles. Following this announcement, 568 employees are to lose their job before the end of 2005.

Sources

  • 12 January 2005: Rzeczpospolita

Citation

Eurofound (2005), GE Money Bank, Merger/Acquisition in Poland, factsheet number 61022, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61022.