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BNP Paribas to slash 400 jobs in Poland


2012-05-09



BNP Paribas is the latest foreign banking group to announce substantial lay-offs at its operations in Poland. In a statement to the Warsaw Stock Exchange on 9 May, the French company revealed plans to axe up to 410 jobs, or nearly 14% of its Polish workforce, between June 2012 and July 2013, as part of efforts to improve its operating efficiency in a medium-term perspective amid a tough competitive environment. At the same time, it would strive to increase revenues through continued investments in its sales network and business competencies in Poland, BNP Paribas added.

At present BNP Paribas Polska employs almost 3,000 people.

Nordea, Bank BPH (a unit of GE Capital), Citi Handlowy, and DnB Nord, have all announced job cuts in Poland in recent weeks.



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