Bank Millennium opened 2020 with activities aimed to ensure organizational and process integration with Euro Bank, which was acquired in 2019.
As a result of the merger, organizational structures were combined, overlapping organizational units were liquidated, processes were standardized and streamlined. The Bank’s outlets were also subject to reviews – based on the conducted economic and market analyses, it was decided to close some of them. Collective redundancies were carried out between February and April 2020. The principles on which such redundancies took place, the criteria and amounts of severance payments were developed and consulted with the trade unions functioning in the Bank. The trade unions’ response to the obligatory and additional severance payments as well as additional benefits (e.g. a six-month medical care for employees) proposed by the Bank was very positive. In the second half of the year, the Bank decided also to limit new employee recruitment in many areas.
employee turnover ratio
37 years old
As a consequence of the above measures, the headcount at the Bank Millennium Group decreased by 11%, i.e. to 7,645 employees, compared to 2019. The employee turnover ratio dropped to 3% relative to 4% in 2019. Women constitute the majority of employees (66%) and the average employee is 37 years old.