PARIS: BNP Paribas plans to cut up to 1,800 jobs as part of a merger of Bank BGZ, which it bought last year, with BNP Paribas Polska, a spokesman for the French bank said on Friday.
Polish regulators gave the bank approval to merge the two companies on Thursday. The bank had to set a maximum level of job losses under local regulations, the spokesman said.
"The limit was set during the discussions. The plan runs over two years and it's absolutely not certain to reach 1,800. It's a maximum," the spokesman said, confirming a report in French newspaper Les Echos.
BNP Paribas bought Bank BGZ from Rabobank last year for 4.5 billion zlotys ($1.19 billion) as part of a plan to expand in higher-growth markets.
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