PARIS (Reuters) – BNP Paribas’ Belgian subsidiary is about to cut between 800 and 1,000 jobs following talks with unions, French newspaper Les Echos reported on its website on Thursday.
The French bank’s subsidiary, BNP Paribas Fortis, employs about 13,000 people and is Belgium’s number one lender.
Spokespeople at BNP Paribas were not immediately available for comment.
Three out of four unions agreed in principle, the daily reported, adding that the bank is guaranteeing all departures will be done on a voluntary basis.
The proposed accord also includes a provision under which all employees who would decide to retire or resign over the next three years will not be replaced.
Unions also accepted that employees work more hours for the same pay, the paper said.
Reporting by Catherine Mallebay-Vacqueur,; Writing by Mathieu Rosemain; Editing by Alison Williams