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
200 - 430 jobs Number of planned job losses
Announcement Date
11 March 2020
Employment effect (start)
13 March 2020
Foreseen end date
31 March 2021
Description
A collective dispute has been initiated by the local trade union at Santander Consumer Bank in regard to an initiation of collective redundancies under a bank’s restructuring programme. According to the source, over 200 jobs are planned to be cut. The local trade union of banking and services employees Dialog 2005 informed that redundant employees should receive adequate severance pay and social protection covers.Â
Santander Consumer Bank, a multinational commercial bank and financial services company, is a subsidiary of the Spanish bank Santander. In Poland, Santander has been operating since 2006. The bank employed 2,500 employees in 321 units across Poland at the end of 2019.
Update 13/03/2020: Santander Consumer Bank has confirmed that it anticipates a collective dismissal programme. According to the bank, up to 430 positions will be cut by the end of March 2021. Reducing the employment capacity is part of the bank’s current strategy which focuses on digitalisation of customer relationships and automating processes.
Eurofound (2020), Santander Consumer Bank, Internal restructuring in Poland, factsheet number 99503, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99503.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
