02/10/2020
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02/10/2020
BNP Paribas (Switzerland) and its staff signed a social plan at the end of January for the 250 employees who will be dismissed following the restructuring. The agreement meets staff expectations.
The social plan takes into account years of service and offers people over 58 advantageous conditions for early retirement, said Monday the Swiss Association of Bank Employees, which accompanied the process.
The establishment is also committed to supporting employees to find a job, either through training or by a replacement.
BNP Paribas has also agreed to enter into the collective labor agreement (CCT) for the financial sector. A new staff committee was elected in the process.
The Swiss subsidiary of the big French bank announced at the end of November a vast restructuring plan, with the dismissal of 250 employees out of a workforce of 1400. The restructuring mainly concerns Geneva, where the bank has its headquarters. The layoffs are expected to be pronounced between this year and the next.
In its press release, BNP Paribas justified these cuts by the weight of negative rates, shrinking margins and the need to invest in technology.
ats, awp
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