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Santander to cut Polish headcount by 10%


2011-01-11



Santander, the Spanish banking group, will axe 340 jobs at its Polish operations in 2011, as it integrates the local assets of AIG Bank, which it acquired last year. However, the branch network will not be affected, the company said.

In a notification to the Wroclaw labour office, Santander said the lay-offs will affect about 90 people, or some 12% of the workforce, at Santander Bank Polska, and about 250 people, or just over 9%, at AIG Bank Polska, leaving Santander’s Polish headcount at just under 3,200, down from a little over 3,500.

Both Santander Bank Polska and AIG Bank Polska are focused on consumer finance products, meaning there is considerable operating overlap between them.

Meanwhile, it is not clear what will be the effect on jobs of Santander’s much bigger acquisition last year of BZ WBK, a top four Polish bank, from Ireland’s AIB.



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