November 6, 2019 / 2:25 PM / a month ago

Natixis to move 100 French jobs to Portugal: CGT union

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

The bank has already moved 750 IT jobs over the last three years to its Portuguese hub in Porto. The latest move would affect back office staff and employees working in human resources, risk management and compliance.

“A major plan was presented to the members of the work’s council of Natixis SA,” the union said in a statement.

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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