BGŻ BNP Paribas

Type
Merger/Acquisition
Country
Poland
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
2,200 jobs
Number of planned job losses
Job loss
Announcement Date
14 December 2018
Employment effect (start)
1 January 2019
Foreseen end date
31 December 2020

Description

BGŻ BNP Paribas, the sixth-largest lender in Poland, has announced that it will implement a collective dismissal programme which will affect up to 2,200 employees by the end of 2020. The bank has completed negotiations and has signed an agreement with the local trade unions concerning collective redundancies to be implemented between the beginning of 2019 and the end of 2020. The redundancies are part of the company’s costs saving programme following the acquisition of Raiffeisen Polbank. As of December 2018, the combined Polish workforce of BNP and Raiffeisen is about 11,000.

Citation

Eurofound (2018), BGŻ BNP Paribas, Merger/Acquisition in Poland, factsheet number 96258, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96258.