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BNP Paribas Asset Management to launch voluntary redundancy plan in Paris

Reuters
Updated

PARIS (Reuters) - BNP Paribas <BNPP.PA>, France's biggest listed bank, said on Monday it would launch a voluntary redundancy plan affecting about 10% of employees in its asset management unit in Paris.

"BNPP AM continues its adaptation and confirms the launch of an adaptation plan to streamline the product offering, the regional organisation and entities in order to keep its competitive position," the bank said in a statement, without giving figures on its workforce in Paris.

BNP Paribas Asset Management has over 2,400 employees globally.

The plan would priotitize moving jobs around internally without any forced redundancy, the bank added.

(This story repeats to correct a typo in the 3rd para)

(Reporting by Maya Nikolaeva; Editing by Sarah White)