BNP Paribas SA is planning to cut as many as 50 roles across its unit in the UK as Chief Executive Officer Jean-Laurent Bonnafe ramps up efforts to curb costs.
The bank has started consultations with the employees as part of a yearly review of its staffing, people familiar with the matter said.
BNP Paribas has about 4,500 staff in its UK bank.
The French lender is working to offer the affected employees different roles within the organization where possible, the people said, asking for anonymity because the plans aren’t public yet.
A spokeswoman for BNP Paribas declined to comment. The cuts come as Bonnafe seeks an additional €400 million (£375 million) in costs savings to offset revenue headwinds.
https://uk.finance.yahoo.com/news/bnp-paribas-said-plan-50-120628760.html