Edmond de Rothschild to cut 66 jobs in France-paper
PARIS Oct 30 (Reuters) - Edmond de Rothschild Group will make its biggest round of job cuts in France as part of the reorganisation of its asset management operations, business daily Les Echos reported on Tuesday.
The private bank will cut 66 jobs from its 1,000-strong workforce in France and has drawn up a voluntary departure plan that is due to be completed by December 31, the newspaper said, citing a source close to the company.
The company had said in July that it wanted to merge its two main asset management units in France, Edmond de Rothschild Asset Management and Edmond de Rothschild Investment Managers, to create a single structure with more than 20 billion euros ($25.8 billion) of assets under management.
Christophe de Backer, who became head of the French operations last spring, was asked by the Rothschild family to submit a strategic plan for the next four years by mid-November, Les Echos said.
No one was immediately available for comment at Edmond de Rothschild. ($1 = 0.7749 euros) (Reporting by Alice Cannet; Editing by David Goodman)
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