November 7, 2019 / 12:07 PM / 15 days ago

UPDATE 1-Natixis to move 100 French jobs to Portugal - CGT union

(Updates with a source)

PARIS, Nov 7 (Reuters) - French investment bank Natixis plans to move 100 jobs in France to Portugal to stay competitive and cope with a challenging economic environment, the CGT union said.

The positions being moved to the Portuguese city of Porto would replace temporary posts or jobs the bank had previously outsourced in France, a source familiar with the matter said.

The bank has already moved 750 IT jobs in the last three years to its Portuguese hub.

“A major plan was presented to the members of the work’s council of Natixis SA,” the union said in a statement on Wednesday, adding that the move affected back office positions in human resources, risk management and compliance.

Natixis, which is to report quarterly results on Nov. 7, declined to comment.

Reporting by Maya Nikolaeva; Editing by Dominique Vidalon and Edmund Blair

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