Infotech BNP Paribas plans to cut 921 jobs

BNP Paribas plans to cut 921 jobs

BNP Paribas plans to cut 921 jobs out of 5,142 in France within its subsidiary dedicated to consumer credit, BNP Paribas Personal Finance, according to a union source, figures not confirmed by the French bank.

Funds in euros, unfairly unloved investments

The group nevertheless mentioned a plan without forced departures, a few hours after the publication of a record net profit in 2022. Of these 921 job cuts, 690 in “maximum” will be able to benefit from a voluntary departure plan, learned AFP from a union source.

The sequel after the ad

No forced departure, according to the bank

According to her, 714 deletions will take place in so-called functional services (finance, IT, marketing) and 202 in operational services (call centers, Cofinoga agencies, etc.).

“These deletions do not take into account transfers of activities (and personnel) within the BNP Paribas group, nor the natural turnover provided for in the strategic plan (-320 positions from 2023 to 2025)”said the same source.

Real estate: credit rates have increased, not yet soared

There will be no forced departure, then clarified to AFP the bank, which presented Tuesday to its unions the outlines of the voluntary departure plan envisaged within the entity dedicated to consumer credit in France, negatively affected by the return of inflation.

“It’s a job with a great future” but who suffers the consequences of “the very sudden rise in interest rates” and therefore must “to adapt”, reacted on BFM Business the deputy general manager Thierry Laborde. We “will find elements of development in the future”he said, mentioning in particular “10 billion (euros) in assets by 2025” In “the automotive transition”.

The sequel after the ad

“But, until then, it is necessary (that this profession) manages its adaptation, so there is a voluntary departure plan which is being negotiated with the social partners. »

Net profit of 10 billion euros

A four-month period of consultation with employee representative bodies now begins. Of the “strategic thoughts” about a “Refocusing our activities and adapting our operating model” had already been presented to the social partners before Christmas, the bank said on January 6.

BNP Paribas given formal notice by three NGOs to stop the development of fossil fuels

The in-store consumer credit business had already suffered heavily from confinements during the Covid-19 pandemic. And the postponement of the purchase of certain goods on the internet does not necessarily benefit the historical players in this profession, faced with competition from start-ups such as Alma or Younited.

The repayment capacity of borrowers, whose budgets are increasingly tight due to rising prices, may also call for banks to be cautious in this market. This announcement comes as the bank indicated a few hours earlier that it had recorded a record net profit of just over 10 billion euros in 2022, thus displaying brilliant health.

Leave a Reply

Your email address will not be published. Required fields are marked *