Cofinoga May Be Planning Job Cuts, Le Figaro Reports

Cofinoga, a French consumer-credit venture of BNP Paribas (BNP) SA and Galeries Lafayette SA (GL), may be planning hundreds of job cuts, Le Figaro reported, citing Rene Bertail, the secretary of the works council.

The business has been hurt by slowing economic growth and a law aimed at protecting individuals from taking on too much debt, the paper said.

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