Banque de France has unveiled plans to cut staff numbers from 13,009 to 10,500 by 2020.
In an interview with Agence France-Presse, confirmed by the central bank, head of human resources Frédéric Peyret said governor Christian Noyer had decided that as staff members retire, only one in two would be replaced.
Peyret said the central bank faced a demographic crisis, with up to 700 people a year approaching retirement age over the coming years.
Banque de France has over the last decade already reduc
- Next financial crisis “will be brewing” in shadow banking – Bullard
- James Bullard on 2% rates, tariffs and Fed leadership
- Policies must change to stop emerging markets crisis, analysts say
- Brian Wynter on Jamaica’s inflation-targeting transition
- Argentinian central bank raises large banks’ reserve requirements