At BNP Paribas, there are those who win big… and those who lose everything. 2020 is perhaps emblematic of this situation: while the number of bankers having received a bonus of more than one million euros is on the rise, the group has announced the elimination of several hundred jobs in two years.
222 bankers at BNP Paribas received more than 1 million euros
The bankers who smelled the right plan in 2020, where a stock market crash did not fail to wreak havoc and where the health crisis led to major societal changes, were numerous at BNP Paribas … and they won big . The number of financiers who received a bonus of more than 1 million euros is higher than 2019: 222, reveals the newspaper The echoes.
Generally, nearly 500 million euros (497 to be exact) were paid to these financiers who take risks, a level never reached since … 2014. Compared to its direct competitors, moreover, BNP Paribas was much more generous: Societe Generale paid only 169 million euros (and only 44 bankers received a bonus of more than 1 million euros). But it must be said that BNP Paribas has nearly twice as many risk-takers (1,444) than Société Générale (781).
300 advisor positions cut by the BNP by 2022
If the financial ones are doing more than well, with bonuses of an amount never seen since 2014, the banking advisers, for their part, toast. On January 20, 2021, BNP Paribas announced a reduction of 5% of its workforce in the field of customer advice particular to the horizon of 2022, unveiled MoneyVox on January 20, 2021.
If the bank announces that no redundancies are planned and that the elimination of positions will be done naturally, in particular through retirements, despite everything, this represents 300 jobs lost.