Nearly 590 employees will lose their jobs at Bank Handlowy under the bank’s new strategy, which calls for 85 branches (40% of its network) to be closed by 2015. This will allow the company to cut 11 percent of its staff in Poland. Its chairman predicts that competitors will be soon be copying the approach. “I think the banking sector will revise the universal strategies in the near future” sais Sławomir Sikora, the bank’s chairman. “Not many banks can afford it.” Mid-sized locations are being targeted for closings, as Bank Handlowy will focus on the larger cities going forward.
