Noyer gives green light to Banque de France job cuts

banquedefrance

The General Council of the Banque de France, chaired by governor Christian Noyer, yesterday gave the go-ahead to a 'modernisation plan' that will see the central bank cut thousands of jobs and overhaul its operations.

The majority of the changes will be made to the Banque de France's network of regional offices and cash handling centres, which currently employ some 6,300 staff members. Of these, 2,600 are expected to retire by 2020, and the central bank plans to replace just 500–1000, downsizing

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