BELGA/VAN ACCOM

2,200 job losses at BNP Paribas

Belgium's biggest bank, BNP Paribas Fortis, is axing 2,200 jobs.  The company, a daughter BNP Paribas of France, has just reached an agreement with the unions about how these job losses can be achieved.

The job cuts are being made over the next three years.  They will be achieved through natural wastage.  Nobody will be sacked.  Around 800 workers aged over 58 will be able to stay at home with over half their wages.  A new job within or outside the company will be sought for 200 others.  A further 1,200 employees are expected to retire or leave the company voluntarily and will not be replaced.