EMCC European Monitoring Centre on Change

BNP Paribas Fortis

Company/Organisation:
BNP Paribas Fortis

Geographic Location

Country: Belgium

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 18000
Group: BNP Paribas Group

Employment Effects

Announcement Date: 21-12-2012
Planned Job Reductions min: 1800
Planned Job Reductions max: 1800
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2013
Foreseen End Date: 31-12-2015

Additional Information

BNP Paribas Fortis announced its intention to reduce its workforce by 1800 employees by 2015.

According to the management, the reduction will be implemented through natural attrition and the non-replacement of retiring employees. As a result, the company will only recruit 200 new employees per year to replace 800 to 850 departures.