BNP Paribas: 1,200 jobs cut

BNP Paribas announced plans to eliminate 1,200 positions (600 in France), closing 16% of its branches as part of digitalization. Some employees are being replaced by AI as agencies close. The connection to AI is moderate — while the company is investing in AI capabilities, the layoffs were attributed to broader restructuring alongside technology adoption. Of the 1,200 total positions affected, our methodology estimates that approximately 480 roles (40%) are attributable to AI-driven changes. This is part of a broader pattern in Banking where companies are restructuring operations around AI capabilities while reducing headcount in functions susceptible to automation.