BNP Cutting 1,600 Jobs in Ukraine as Turmoil Escalates
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BNP Paribas SA, France’s largest bank, is cutting 1,600 jobs at its Ukrainian unit, or more than 20 percent of the workforce, as the country faces mounting unrest and a standoff with Russia.
“The bank, as far as possible, is functioning,” Chief Executive Officer Jean-Laurent Bonnafe told journalists in Paris today, referring to the Ukrainian unit, PAT Ukrsibbank. BNP’s preoccupation for the past few weeks has been to ensure the security of employees in the country, he said.