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Report: BNP Paribas to cut 675 jobs in French i-bank

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Report: BNP Paribas to cut 675 jobs in French i-bank

BNP Paribas SA aims to cut 675 jobs at its corporate andinstitutional bank in France, after presenting a voluntary redundancy plan tounion representatives April 14, Reuters reported, citing "a sourcefamiliar with the matter."

BNP Paribas, which plans to cut more than €1 billion incosts by 2019, has said it was looking to gain market share in investmentbanking, Reuters noted. It had about 6,000 corporate and investment bank staffin France and more than 30,000 in total, according to the bank's 2015 annualreport.