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BNP To Shed 1,396 Jobs

French lender BNP Paribas is looking to lay off 1396 employees at its corporate and investment bank.

French lender BNP Paribas is looking to lay off 1396 employees at its corporate and investment bank, The Wall Street Journal reports. The job cuts account for nearly 7 percent of the staff.

The bank has unveiled a global restructuring of its corporate and investment bank to adjust with new capital rules and to handle complex market conditions. It is looking to slash 373 jobs in France and 1,023 positions outside the country.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Financial News.

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