HVB-UniCredito merger will make its presence felt in Poland

Official sources say that staff reductions in the whole of Central Europe will amount to about 9%. Parkiet claims, however, that even up to 6,000 people could lose their job in HVB's Polish branches, BPH and Pekao. "The decisions concerning Poland are yet to be made, which does not automatically translate into staff reductions," said Robert Moreń, a spokesperson at Pekao. Nevertheless, even if the cutbacks were equal in all the countries in which HVB operates, nearly 2,500 people working in BPH and Pekao would have to look for new jobs. The group hopes to save EUR100 million a year through the staff reductions. (Parkiet, p. 1) A.F.