BNP Paribas SA (BNP)’s Cofinoga credit unit expects the elimination of 433 jobs through voluntary retirement will help revive profit at the business by 2015, Philippe Lemoine, president of the division, told Les Echos.
The company is also seeking to cut costs in information technology in a three-year plan, Lemoine was quoted as telling the French newspaper.
Cofinoga is jointly owned by Paris-based BNP Paribas and Galeries Lafayette SA.
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