PARIS Jan 18 BNP Paribas, France's No. 1 bank, has told staff representatives it plans to invest 1 billion euros ($1.34 billion) in a far-reaching cost-savings plan, a union source told Reuters.
"The plan, called 'Simple & Efficient', will run through 2015," the source said. "Over 1 billion euros will be spent on planned changes that will potentially affect all of BNP's business lines." ($1 = 0.7486 euros) (Reporting by Lionel Laurent; Editing by Christian Plumb)