Open Finance to lay off all staff

The financial intermediary, which filed for bankruptcy in December, has announced that it has launched a procedure for group layoffs.

The redundancies will last until the end of this year and will involve a total of 1119 employees, i.e. the entire workforce. Representatives of the employees will be informed about the reasons for the redundancies. Open Finance will also invite them for consultations.

Open Finance is Poland’s largest financial intermediation company. Its main shareholder is Getin Noble Bank, which is owned by Leszek Czarnecki.

In December 2021. Open Finance filed for bankruptcy. The reason was a significant deterioration of the company’s financial situation and too low revenues that did not cover its costs. The lack of prospects for obtaining financing that would allow the company to operate in the coming months was also a problem. After three quarters of 2021. Open Finance had a net loss of PLN 13.8m.

Source: https://www.money.pl/banki/open-finance-zwolni-wszystkich-pracownikow-6730146465950368a.html