BNP Paribas Securities Services has launched a programme to enable the pursuit of sustainable and profitable growth, according to a spokesperson from the bank.
The aim of the programme is to optimise the bank’s operating model and simplify its organisation.
The decision is an effort to “preserve BNP Paribas Securities Services’ competitiveness, which is facing increased global competitive pressure and a low-interest rate environment”, according to the bank.
In line with the programme, BNP Paribas is considering a reduction in the number of jobs in France within three years.
However, BNP Paribas has said that the programme will be implemented without forced redundancies, as part of BNP Paribas' social agreement affirmed through its employment and career management agreement in France.
The name of the programme is yet to be disclosed by the bank.
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