Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

245 jobs
Number of planned job losses
Job loss
Announcement Date
8 March 2017
Employment effect (start)
1 June 2017
Foreseen end date
1 January 2019


The private bank Neuflize OBC has announced a reorganisation that will lead to 245 job reductions by 2019, which represent 25% of its workforce. All services will be concerned, from general management to business lines, from asset management to support functions. A voluntary departures plan will be open until 2019. The management has started to negotiate the plan with the representative of the unions and the first departures are expected before the summer.

Meanwhile, the bank has decided to invest EUR 50 million to increase automation and digitalisation. "We will not be able to charge services tomorrow that will be rendered more efficiently and for a derisory price by digital tools. In ten years, we will no longer be a labour force industry" says the president of the bank. The bank had a turnover of  EUR 317,7 million in 2016 less than in 2015 (EUR 324,1 million).


  • 7 March 2017: Le Figaro
  • 8 March 2017: Les Echos


Eurofound (2017), Neuflize OBC, Internal restructuring in France, factsheet number 90559, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90559.