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Cofinoga May Be Planning Job Cuts, Le Figaro Reports

Jan. 19 (Bloomberg) -- Cofinoga, a French consumer-credit venture of BNP Paribas SA and Galeries Lafayette SA, 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.

To contact the editor responsible for this story: David Whitehouse at dwhitehouse1@bloomberg.net

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