February 27, 2020 / 9:56 AM / a month ago

Poland's Bank Pekao layoff provisions to be created in Q1 -CFO

WARSAW, Feb 27 (Reuters) - Provisions for layoffs announced last week will be created in the first quarter of this year, the chief financial officer (CFO) of Polish bank Pekao said on Thursday.

“Reserves will be created in Q1 of this year,” Tomasz Kubiak told reporters.

Pekao announced last week it would lay off up to 1,200 employees. (Reporting by Marcin Goclowski, Writing by Joanna Plucinska)

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