BNP Paribas to cut jobs, branches in Italy - sources

BNP Paribas to cut jobs, branches in Italy - sources
 

BNP Paribas plans to cut 5 percent of the workforce at its BNL Italian business and close more than 10 percent of its branches there, two union sources said, as the French bank tries to return the division to profit.
BNP Paribas is due to present a new three-year strategy early in 2017 for its main European markets of France, Italy, Belgium and Germany, where in line with peers it has already started to cut costs.
BNL would cut 700 jobs and close 100 branches under its new business plan to 2020, the sources said on Wednesday following a meeting between the bank and union representatives the... read more

 
12 October 2016 in Business, Views: 43
Source: Reuters
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