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PEO — Bank Polska Kasa Opieki SA News Story

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Brief: Bank Polska Kasa Opieki Estimates Total Costs Of Changes In Employment Conditions At 22 Mln Zlotys

Aug 28 (Reuters) - Bank Polska Kasa Opieki SA PEO.WA:

95% EMPLOYEES ACCEPT PAY CHANGES PROPOSED BY BANK

CONCLUDED AGREEMENT SPECIFYING PRINCIPLES FOR CHANGING TERMS AND CONDITIONS OF REMUNERATION AND BONUSES FOR NO MORE THAN 138 EMPLOYEES IN FORM OF COLLECTIVE REDUNDANCIES WITH THREE TRADE UNIONS OPERATING IN BANK, INCLUDING ALL REPRESENTATIVE ORGANISATIONS

PARTIES TO AGREEMENT AGREED ON TERMS OF SEVERANCE PAY AND ADDITIONAL BENEFITS FOR THOSE WHO DID NOT ACCEPT BANK'S PROPOSAL TO CHANGE TERMS OF REMUNERATION AND BONUSES

IT WAS ALSO AGREED THAT PROCESS OF PRESENTING EMPLOYEES WITH NOTICES AMENDING TERMS OF THEIR EMPLOYMENT CONTRACTS WILL BEGIN NO EARLIER THAN SEPT. 1, AND WILL END NO LATER THAN SEPT. 30, AND WILL APPLY TO NO MORE THAN 138 BANK EMPLOYEES

ESTIMATES TOTAL COSTS RELATED TO CHANGE IN EMPLOYMENT CONDITIONS OF BANK'S EMPLOYEES AS PART OF COLLECTIVE REDUNDANCIES AT ABOUT PLN 22 MILLION GROSS

Source text: ID:nEM206z7ja

Further company coverage: PEO.WA

 (Reporting by Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com;))

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