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Santander's Polish unit to lay off up to 1,400 staff

Banco Santander SA unit Santander Bank Polska SA announced plans to lay off around 11% of its workforce.

The group layoffs of up to 1,400 employees will take place between February and Dec. 31, 2019, the Polish lender said Jan. 10.

Santander Bank, which recently finalized the takeover of part of Deutsche Bank AG's Polish business, said the final numbers of layoffs will be announced after consultations with trade unions.