May 31, 2018 / 4:30 PM / 3 months ago

BNP Paribas to cut international retail banking posts in Paris

PARIS (Reuters) - France’s BNP Paribas plans to cut 91 posts in Paris that deal with retail banking activities outside its key European markets, such as Poland, Turkey or on behalf of its U.S. subsidiary BancWest, the bank said on Thursday.

FILE PHOTO: The logo of French bank BNP Paribas is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau

The headquarters of the unit in Paris has 292 staff and employees whose jobs are cut will be offered other posts in the region, according to the FO trade union. A BNP spokeswoman confirmed there would be no layoffs.

According to the union, management said the move was due to the growing maturity and desire for greater independence of the 15 units that made up the bank’s international retail banking activities in Central and Eastern Europe, Turkey, China and the United States.

The FO union added that as part of the move, the human resources team in Paris will be cut to 31 from 59 jobs.

Overall, BNP has 41,000 international retail banking employees in 15 countries.

Reporting by Maya Nikolaeva; Editing by Adrian Croft

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