Banque de France plans to reduce regional presence

The Banque de France outlined on September 12 the decrease in its regional services as part of the 'Building the Bank of 2020' project.

The central bank currently has 127 permanent regional sites, which will fall to 105 under the adjustments. As a result, the number of workers will drop from around 6,300 to between 4,200 and 4,600 in regional branches.

The decrease will be driven by an estimated 2,600 retirements, with the central bank set to hire between 500 and 1,000 replacement staff only.

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