France-based retail banking group BNP Paribas has decided to axe up to 800 jobs at its Polish banking arm BNP Paribas Bank Polska.
The latest development was announced in a report published by the bank on 25 November 2020, with title “Intention to conduct collective redundancies at BNP Paribas Bank Polska S.A.”
BNP Paribas said that its decision to reduce its headcount in Poland is in line with its digitisation plans and in view of the current market situation.
The layoffs are anticipated to take place in two years between 2021 and 2023.
The collective redundancies will affect staff in the bank’s head office and sales unit.
In the report, BNP Paribas wrote: “The Management Board of BNP Paribas Bank Polska S.A. (the “Bank”) hereby informs that following changes in the market situation, a dynamic technology development in the banking sector and digitalisation projects executed by the Bank it took the decision of a further adaptation of the Bank’s operating model and intends to conduct collective redundancies.
“In the resolution taken on 25 November 2020 the collective redundancies are to be carried out in 2021-2023 and to cover no more than 800 employees of the Bank hired in the head office and the sales network.
“The Management Board of the Bank will inform the trade unions about the reasons for the intended collective redundancies and ask them to join the consultation process on the conditions of dismissals for the reasons not attributable to the employees.
“The Bank will publish another current report on above mentioned matter after the completion of the consultations with the trade unions required by applicable laws.”
Earlier this month, French banking group Societe Generale also decided to lay off 650 people in its home market as part of its restructuring plan to cut costs.
HSBC axed 100 senior-level jobs at its UK retail banking arm.
Dutch lender ING also shrunk its workforce by 1,000 amid rising cost pressures.