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
640 jobs Number of planned job losses
Announcement Date
22 June 2017
Employment effect (start)
1 September 2017
Foreseen end date
1 January 2020
Description
The bank BNP Paribas has announced a reorganisation that will lead to cut 640 positions in its retail banking activities by 2020. The retail banking activities employs currently 29,000 people in France. The details of the project have been presented on 22 June to the representatives of the trade union. Earlier during the year, the group declined to comment rumours that it planned to close 200 agencies by 2020.
The 640 job reductions will result from natural departures, mainly retirement. The reorganisation aims to decentralise the decision centre and to reduce the level of decision from 3 to 2 deleting the "entities" that are currently between the agencies and the "groups" covering several entities.
Sources
22 June 2017: Le Monde
22 June 2017: Le Figaro
Citation
Eurofound (2017), BNP Paribas, Internal restructuring in France, factsheet number 91337, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91337.
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