BNP Paribas Fortis

Type
Internal restructuring
Country
Belgium
Region
Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest; Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest; Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
400 jobs
Number of planned job losses
Job loss
Announcement Date
8 November 2016
Employment effect (start)
1 January 2017
Foreseen end date
31 December 2018

Description

BNP Paribas Fortis, the Belgian subsidiary of the French BNP Paribas group, has announced plans to reduce its staff by 250 employees. This plan follows up a previous restructuring by the company that should lead to the resignation of 260 older employees by mid 2017. In five years time the company will have reduced its total staff by 4568.

Update: In mid January the company announced it will increase the number of employees departing to 400 between 2017 and 2019. Most of these will leave through an early departure plan targeted at workers aged 55 and over with 25 years of service. 

Sources

  • 8 November 2016: HLN
  • 8 November 2016: De Tijd
  • 12 January 2017: L'Echo

Citation

Eurofound (2016), BNP Paribas Fortis, Internal restructuring in Belgium, factsheet number 90320, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90320.