Paribas to cut Asian jobs

Paribas to cut Asian jobs

PARIS (Dow Jones): The merger of Asian operations at merging French banks Banque Nationale de Paris SA and Paribas SA will likely result in about 100 job cuts, according to Friday's edition of the London Evening Standard.

A spokesman for BNP declined to comment and Paribas officials weren't available for comment.

According to the paper, 25 percent of Paribas's 400 jobs in Asia are threatened by BNP's plan to refocus activities in the region around Hong Kong, Tokyo and Singapore.

BNP recently took control of Paribas and the banks are in the process of merging operations worldwide.