Internal restructuring
Location of affected unit(s)
Bordeaux, Lyon, Marseille, Toulon, Strasbourg, Le Havre and Dijon
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

850 - 1,650 jobs
Number of planned job losses
Job loss
Announcement Date
28 May 2008
Employment effect (start)
6 June 2008
Foreseen end date
31 December 2009


The French-based bank, Natixis, has announced that it will cut 850 jobs. The group specialises in five main types of services: financing and investment banking, asset management, services, receivables management, private equity and private banking, and it operates in 68 countries in Europe, North and South America, Africa, Asia and Oceania.

The closure of five back-offices in France (Bordeaux, Lyon, Marseille, Toulon and Strasbourg), and of two commercial agencies (Le Havre and Dijon) is foreseen. According to the management, this plan is necessary to cope with the subprime crisis, which is costing 2,5 billion euros, and to save 400 million euros (10% of its fixed costs). While management announced the loss of 850 jobs among those employed directly, a union representative indicated that 800 additional jobs will be lost among external suppliers working for the company.



Eurofound (2008), Natixis, Internal restructuring in France, factsheet number 66681, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66681.