Citi Handlowy

Type
Internal restructuring
Country
Poland
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
792 jobs
Number of planned job losses
Job loss
Announcement Date
22 October 2013
Employment effect (start)
22 October 2013
Foreseen end date
31 October 2014

Description

Citi Handlowy announced plans to shut down 19 branches across Poland and cut 792 jobs by the end of October 2014.

The restructuring programme is associated with the transformation of the bank’s distribution system and the implementation of a new operating model. As part of the restructuring, the bank plans to open 25 “smart” branches by the end of 2014.

For previously reported restructurings see CitiHandlowy 2012, CitiHandlowy 2008 and CitiHandlowy 2005.

Sources

  • 22 October 2013: Bankier.pl

Citation

Eurofound (2013), Citi Handlowy, Internal restructuring in Poland, factsheet number 76069, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76069.