Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 16 May 2011, the management of BNP Paribas Leasing Solutions announced a restructuring plan resulting in the loss of 120 jobs (out of a total of 1,078 in France).
According to the management, the company will seek to avoid compulsory dismissals and will negotiate a social plan with the unions.
Reportedly, the new global regulatory standards on bank capital adequacy and liquidity (Basel III) published in December 2010 prompted this restructuring. The new rules will be progressively implemented from January 2013 until 2019.
BNP Paribas Leasing Solutions is a subsidiary of the French bank BNP Paribas (204,600 employees worldwide).
Eurofound (2011), BNP Paribas Lease Group, Internal restructuring in France, factsheet number 72038, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72038.
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