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BNP Paribas to cut 1,400 jobs - unions

The cuts will be made in BNP's Corporate and Investment Banking unit, the unions said
The cuts will be made in BNP's Corporate and Investment Banking unit, the unions said

BNP Paribas plans to cut 373 jobs in France and 1,023 more in its offices abroad, unions at the French bank have said.

The cuts will be made in BNP's Corporate and Investment Banking unit, management announced at a works council meeting, the CGT and CFDT unions said.

The cuts represent around 6.5% of the CIB unit, which employs 21,400 people.

BNP has been hit by its exposure to Greek sovereign debt. In August the bank said it was setting aside €534m to cover this exposure.