BNP Paribas Plans to Cut 50 Roles Across Its UK Unit.

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    • Subject Terms:
      BNP Paribas SA
    • Abstract:
      BNP Paribas is planning to cut up to 50 roles in its UK unit as part of cost-cutting efforts. The bank is currently in consultations with employees and is looking to offer affected employees alternative positions within the organization. CEO Jean-Laurent Bonnafe is seeking €400 million in cost savings to offset revenue challenges. The bank's profit in the first quarter exceeded analysts' expectations, despite a decline in fixed-income trading. [Extracted from the article]
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