• 19 Feb 2014 at 9:45 AM

Layoffs Watch ’14: BNP Paribas

Cuts are expected to go down at the French bank this week.

From the front lines:

“Huge layoffs are coming Thursday at BNP…going to be ugly. HR already booked the 9th floor.”

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Comments (23)

  1. Posted by Guest | February 19, 2014 at 10:02 AM

    Please don't tell me the building only has 8 floors.

    – UBS Gravity Quant

  2. Posted by Guest | February 19, 2014 at 10:22 AM

    I'm guessing the Iranian Oil Trading and Cuban cash desks are seeing some cuts.

  3. Posted by Rebecca M. | February 19, 2014 at 11:22 AM

    "…going to be ugly. HR…"

    HR has always been full of ugly.

  4. Posted by guest | February 19, 2014 at 11:33 AM

    Hey!

    ~Wideclips (wearing my favorite boots)

  5. Posted by Pakd | February 19, 2014 at 2:20 PM

    What? You narrow minded, hateful bigots object to sibling sex? Don't you realize that sexual behavior has been removed from the category of morality in Obama's brave new world?

  6. Posted by Guest | February 19, 2014 at 2:25 PM

    There is more dead wood here than n my granddaddys underpants. Viva La France!

  7. Posted by 281-330-8004 | February 19, 2014 at 2:29 PM

    Too many showtunes? You're a democrat.

    Like rap? You're clearly insane and thus a democrat.

  8. Posted by Gogi | February 19, 2014 at 2:48 PM

    cool story bro

  9. Posted by Kerviel | February 19, 2014 at 2:54 PM

    "French bank"

    Stopped reading right there.

  10. Posted by Yogi | February 19, 2014 at 3:58 PM

    Compelling and rich

  11. Posted by Guest | February 19, 2014 at 5:43 PM

    Are they laying off bankers in France? Must have been a good earnings season if they can afford to fire people.

  12. Posted by Jaque | February 19, 2014 at 6:45 PM

    Well, then they can join BDS or Oxfam movement.

    - Career Placement Coach, France

  13. Posted by b. dee | February 20, 2014 at 12:18 AM

    Rumors have it that Gogi is from the 9th floor.

    - BNP HR

  14. Posted by Nick | February 20, 2014 at 2:39 PM

    Mem'ries,
    Light the corners of my mind,
    Misty water-colored memories…

    -former BNP employee (c. 2002)

  15. Posted by Andrew | February 20, 2014 at 10:28 PM

    Dysfunctional organization thats filled with tons of incompetent ppl.

  16. Posted by dejavu | February 20, 2014 at 10:56 PM

    profits are down = cut the people not making money. in a tough economy this doesn't sound that complex.

  17. Posted by Olivier | February 21, 2014 at 1:23 PM

    lots of dead wood but they keep the WRONG people.

  18. Posted by Bob | February 21, 2014 at 1:25 PM

    They should call Jamie Diamond to work of the fine for the AML breach maybe he can get them a good deal like he did at JPMC.

  19. Posted by Guest | February 23, 2014 at 10:27 AM

    The MDs do nothing but decorate their multi million$ houses, go on 2 hour lunch breaks, take elaborate vacations, and somehow weasel their way to the top and keep their jobs. No wonder BNP is in shambles

  20. Posted by rogue trader | February 24, 2014 at 5:53 PM

    + 100!

  21. Posted by Ex employee | February 24, 2014 at 8:07 PM

    MD at Bnp: 0 idea about markets, shop for few hours online, watch sports for few hours online, work on house project, attend useless meetings, disappear for few hours in the day, preach, cuss at traders about how they don't do their jobs. Management needs to realize that pv of deferred comp < pv of salary for next couple of years of incompetent MDs. What gives them that sense of entitlement?

  22. Posted by jack loach | March 31, 2014 at 6:47 PM

    Swiss Bank Accounts. 2014.

    Is your monies safe in these accounts —- definitely NOT.
    Would you get your money back if every body decided to withdraw all their accounts – NO WAY.
    Economic Experts say that there would only enough money to repay 50% of their clients.
    Are you going to be in the 50% — that loose your money.– Get it out NOW.

    2012 — – June. — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank.Switzerland. in order to collect large fees. ( Like MADOFF) —Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90,000,000 million lost in this Pictet Ponzi scheme.

    2012 – - – July. — De – Spiegel. — states – Pictet Bank uses a letterbox company in
    Panama and a tax loophole involving investments in London to gain
    German millionaires as clients.

    2012 – - – August —- German Opposition Leader accuses Swiss Banks of "organised crime."

    All the fines that crooked Swiss banks have incurred in the last few years exceeds £75.Billion.
    It is also calculated that the secrecy " agreements" with regards to tax evation by their clients will cost the banks another £450 Billion.( paid out of your monies.)

    The banks are panicking — the are quickly restructuring their banks —- from partnerships —
    to " LIMITED COMPANIES." —– this will probably mean that in the future — they could
    pay you only 10% of your monies " if you are one of the lucky ones" —- and it be legal.

  23. Posted by jack loach | March 31, 2014 at 6:47 PM

    Sods —– Law.
    March.—- 2014.

    For almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank— PICTET & CIE. BANK.

    Two yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies.

    The matter was raised in Parliament – twice– the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank — but the rogues had left —saying no one left to prosecute.??? —– so there.

    We then approached the Financial Ombudsman Service. (FOS) — our case was dealt with by seven different people —- then our numerous E-Mails were ignored — nobody would speak to us ——-so there.

    We then asked the SFO ( Serious Fraud Office.) to investigate our case —- the criteria of our case ticked all their boxes. — we were instructed not to send them
    any documents/evidence.—— in fact they wrote to us advising us to go to the Citizen's Advice Bureau.(CAB.)
    Richard Alderman the SFO boss —- who responded to our letter was the same man who would not investigate the “ Madoff” scandal or the “Libor” fiasco.
    The MP's committee —- said he was sloppy— and the SFO was run like “ Fred Karno's Circus” —– it was an office of fraud.—– so there.

    Our M.P. approached our local Chief Constable to investigate—– he was called—- Sir Norman Bettison— Chief Constable of West Yorkshire Police —- a force that made “ Dad's Army” look like the S.A.S. They were inept – corrupt —malicious — from top to bottom. We were criminally dealt with by the Forces Solicitor—- the Head of the Economic Crime Unit —-and the Chief Constable —– so there.

    We were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did — they advised us to make our complaint to —- the West Yorkshire Police — we did with reluctance — all we got was abuse and obfuscation. —– so there.

    Sir Norman Bettison —- The Forces solicitor— and the Head of the Economic Crime —- have all been removed from their posts and facing criminal allegations.
    —— so there.

    We even sought justice through the Courts — culminating in a visit to the Court of Appeal-London.— On leaving the Courts of Appeal that day our barrister a “rising star” informed us — that if that was Justice then you can keep it. He quit the law and moved to Canada —– so there.

    A few years later we learned that one of the judges in our case at the Court of Appeal was related to a senior executive of the Pictet Bank —–so there.

    Pictet & Cie .Bank — voted private bank of the year 2013.
    Ivan Pictet —- Voted banker of the year 2012. —- the senior partner — lied on numerous occasions and had documents destroyed — also said genuine documents were forgeries. —– so there.

    Ivan Pictet in Oct. 2013 —- Given the Legion of Honour — but saying that —- honours were given to Hitler — Eichmann — Mussolini —Franco — he's in fitting company. —-so there.

    MONTY RAPHAEL.Q.C. — Peters & Peters.London. They were the banks lawyers.
    Monty Raphael.Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court —- the FSA —- and the police Fraud Squad. —-so there.

    Monty Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.
    Monty Raphael.Q.C. became a Master of the Bench in Nov.2012.
    An expert in Fraud —the Doyen of Fraud Lawyers. —– so there.

    This says a lot about Banks — the consensus of opinion is that they are highly paid “crooks” —- no wonder they voted Ivan Pictet banker of the year.

    It appears that crimes in the “establishment.” are honoured by their peers.
    “HONOURS AMONG THIEVES.”

    Full Story.—- “google or Yahoo ”

    Insert.

    Ivan Pictet.Banker.
    Monty Raphael.Q.C.
    Ivan Pictet/Monty Raphael.