BNP Paribas Seeks to Cut 1,200 Jobs on Axa IM Integration (1)

BNP Paribas SA is seeking to eliminate about 1,200 positions as it completes the integration of Axa Investment Managers.

The number is a starting point for talks with unions over the coming weeks about a voluntary redundancy plan, according to people familiar with the matter. The plan, which was first reported by the newspaper Les Echos, could still change, they said, asking not to be named discussing the private information.

France’s biggest lender bought the unit from insurer Axa SA in 2024 for about €5 billion ($5.9 billion), creating one of Europe’s largest money managers with about €1.6 trillion ...