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.
Raiffeisen Polbank, subsidiary of Austrian-based Raiffeisen Bank International, has announced that it will cut between 850 and 950 jobs across Poland by the end of 2017. The restructuring programme is associated with the bank’s plan to close between 60 and 70 branches across the country. The restructuring aims to improve financial and organisational effectiveness of the company. The cost-cutting programme is expected to result in savings of around PLN 200 million (EUR 50million USD 52.95million).
Raiffeisen Polbank has been operating in Poland since 1991. In 2016, the bank implemented a restructuring programme affecting 500 jobs.
Eurofound (2017), Raiffeisen Polbank, Closure in Poland, factsheet number 90717, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90717.