BNP Paribas (BNP) SA’s Cofinoga credit unit plans to cut 433 jobs, according to the CFDT labor union.
Most of the staff reductions will be at a site in Merignac, France, the CFDT said today in an e-mailed statement.
Cofinoga, jointly owned by Paris-based BNP Paribas and Galeries Lafayette SA, aims for cost savings of 100 million euros ($129 million), partly through job reductions, the company said in a statement last week.
To contact the reporter on this story: Stephen Taylor in Paris at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com