Polish Bank Pekao intends to release up employees.

The management of Pekao has adopted a resolution on the intention of group layoffs and consultation on this matter. It is about releasing a maximum of 950 people.

“The bank’s management intends to terminate the employment contract with a maximum of 950 bank employees and change the terms of employment to a maximum of 620 employees of the Bank, from 25 April 2019 to 31 October 2019.” – was written in the message.

As added, on Thursday the management informed the trade union organizations about the reasons for the intended group dismissal and “will contact the trade unions to enter into consultations.” In addition, the Bank’s Management Board will notify the employment office of the intention to carry out collective redundancies at the Bank “- it was written.

At the same time, it was added that the bank will publish another communication on collective redundancies after completing legally required consultations with trade union organizations and will include information on the estimated provision related to employment restructuring at the Bank, which will be charged to the Bank’s result. “The final data regarding the amount of the provision established and the impact of employment restructuring on the Bank’s financial results will be provided in the Bank’s financial statements” – emphasized in the statement.