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BNP Paribas' Polish unit seeks to cut jobs by up to 2,200 people

BNP Paribas SA unit Bank BGŻ BNP Paribas SA will slash its staff numbers by up to 2,200 employees in the next two years, Reuters reported.

The lender said it will create a 128.5 million-Polish-zloty reserve in the fourth quarter of 2018 to cover costs associated with the cuts.

Raiffeisen Bank International AG in April agreed to sell the core banking operations of Polish unit Raiffeisen Bank Polska SA to BNP Paribas SA's Polish unit for approximately €775 million.

As of Dec. 13, US$1 was equivalent to 3.783 Polish zlotys.