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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
New offshoring locations
Morocco
150 jobs Number of planned job losses
Announcement Date
8 May 2017
Employment effect (start)
1 September 2017
Foreseen end date
Description
The bank BNP Paribas has announced the relocation of the IT services of its African activities to Morocco. These services currently employ 150 people in the region Ile-de-France. Affected employees "will be reassigned, accompanied in a process of mobility within the group", indicates an internal source of the bank.
This project, which is currently undergoing a consultation with trade union, will result in recruitment on Moroccan soil, where BNP Paribas is already present through its retail bank BMCI. For the group, it is a matter of reducing costs, "and there is a logic for this mission to be managed locally in Africa," the source added to the daily Le Monde. According to Le Monde, other French bank as Natixis, or Société générale have planned relocation of activities in low-wage countries to reduce their cost. In March 2017, the bank announced a reorganisation that will lead to close 10% of its local agencies by 2020 (200 closures on a total of 1,964 agencies) with 3,710 job reductions.
The bank employs about 58,000 employees in France and around 190,000 worldwide.
Sources
9 May 2017: Le Monde
Citation
Eurofound (2017), BNP Paribas, Offshoring/Delocalisation in France, factsheet number 91022, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91022.
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