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NTXFY vs. ETF Alternatives
Oct. 15, 2013, 5:50 PM
- France's Natixis (NTXFF.PK) will announce a plan to cut 700 jobs primarily in its equity brokerage, equity derivatives, advisory, and global transaction banking units by 2015, Reuters reports. The impact will be felt most heavily by employees in France.
- The bank is looking to cut costs further after taking a step to simplify its financial structure earlier this year by shedding a 20% stake in parent BPCE.
Aug. 4, 2013, 9:48 AM
- The French bank Natixis (NTXFF.PK) will "reorganize several departments" as part of a plan to cut 500-700 jobs.
- Union negotiations are ongoing.
- Some employees will be "encouraged" to take early retirement or take jobs elsewhere.
- The new "voluntary departure" scheme is set to be unveiled in November, Reuters says.
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