EMCC European Monitoring Centre on Change

Banque de France

Company/Organisation:
Banque de France

Geographic Location

Country: France
Region: Paris; île de France
Location of affected unit(s): Paris and other locations

Company

Sector: Financial services
Financial and insurance activities
64.11 - Central banking
Number Employed: 13000

Employment Effects

Announcement Date: 03-01-2012
Planned Job Reductions min: 2500
Planned Job Reductions max: 2500
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2012
Foreseen End Date: 31-12-2020
Other Job Reduction Measures: 2500

Additional Information

On 3 January 2012, the French central bank, Banque de France, has announced to reduce its workforce by 2,500 until 2020. The bank will adopt the rules set for the public sector, recruiting only one replacement for every two retired employees. Until 2020, 5,000 employees will leave the Banque de France due to natural attrition, while the Bank will hire only 2,500 people in the same time period.

The bank's workforce has already been reduced by 2,000 employees over the the last 10 years.