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
133 - 240 jobs Number of planned job losses
Announcement Date
4 November 2016
Employment effect (start)
4 November 2016
Foreseen end date
1 January 2018
Description
According to the newspaper Agefi, the management of BNP Paribas announced, on 14 April 2016, a large reorganisation of its finance and investment bank activities BFI affecting 675 positions and including, as announced by BNP Paribas group the perimeter of it security services' subsidiary, BNP Paribas Securities Services. But, as mentioned by Agefi, the management of BNP Paribas Securities Services has announced its own restructuring plan that affects about 240 positions on a total of 2,500 in France, by 2018. Contacted by the newspaper Agefi, the management confirmed that 133 positions will be cut by 2018, with non replacement of departures in retirement or of employees leaving the company, and with no forced dismissals.
Sources
4 November 2016: Boursorama
Citation
Eurofound (2016), BNP Paribas Securities Services, Internal restructuring in France, factsheet number 89075, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89075.
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