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BNP Paribas Personal Finance
Main severance
Reclassement 12-14 mo · 75%
Health cover
Statutory portability
Status
Signed
Positions affected
900-1,000 positions (≈18% of PF France headcount) — 690 eligible for volunteering
Context
Why the plan was launched and who is affected
Plan type
Cost cutting
Sites affected
BNP Paribas Personal Finance subsidiary — French HQ and support functions
Rationale & context
PDV (Voluntary Departure Plan) announced early 2023 at BNP Paribas Personal Finance (consumer-credit subsidiary, brands Cetelem, Cofinoga, etc.). Context: double shock — difficult exit from Covid-19 lockdowns (consumer-credit demand collapse) then return of inflation and ECB rate hikes (consumer-credit margin compression). PURE-voluntary plan (~690 employees eligible of ~5,000 PF France headcount) with long well-paid reclassement leave — no forced layoffs. Different format from a classic PSE: no selection criteria, no heavy DREETS validation procedure.
Look here first
Severance
What employees received — legal base, supra-legal, caps
Legal / collective indemnity
This is the minimum guaranteed by your sector's collective agreement. Paid to every affected employee on top of the statutory legal indemnity.
Banking collective agreement indemnity
Underlying formula · Flat amount by classification + seniority scale. Collective indemnity generally above legal minimum (often 1/4 month/year from start).
Supra-legal top-up
The amount negotiated by unions ON TOP OF the legal and collective minimum. Often the largest part of the package.
Supra-legal indemnity provided in the PDV agreement (exact amount not public)
Notice period
Period between the dismissal notification and the actual departure. The employee remains paid during this time, whether they work or not.
Not specified in the PSE.
Collective minimum · Banking agreement (IDCC 2120) — Managers: 3 months (renewable once). Technicians: 2 months. Employees: 1 month.
Example — rough estimate
For a manager (cadre) employee with 5 years of seniority and €3,500 gross/month:
| Collective severance | (2.5 months × €3,500) | €8,750 |
| Supra-legal severance | — | Not publicly disclosed |
Very rough illustrative estimate. Your actual amount depends on your exact reference salary (max of 1/12 of last 12 months or 1/3 of last 3 months, bonuses included — art. R1234-4 French Labour Code), your precise status (manager/non-manager/ETAM), your hire date and your individual situation. For a personalized calculation of the legal indemnity, use the official French Ministry of Labour simulator.
Support
Outplacement, training, retraining aid and mobility
Device type
The scheme to help you find a new job: reclassement leave, CSP, or another mechanism.
Reclassement leave (enhanced for PDV)
Duration
How many months the support will last after your departure.
12 to 14 months
Allowance
The percentage of your salary you'll receive during this scheme.
75% of average gross monthly salary for 12 months
Selection
How departures are decided — criteria and voluntary scheme
Voluntary departures
| Departure cap | ≈690 voluntary departures eligible (of ~5,000 PF France headcount) |
| Conditions | Pure voluntary — no forced layoff possible within the PDV framework |
Who can apply for voluntary departure and under what conditions.
Notes & sources
Additional information and references
Notes
Voluntary Departure Plan (PDV) — distinct legal instrument from PSE (voluntary only, no forced layoffs). Announced early 2023 at BNP Paribas's consumer-credit subsidiary. ~900-1,000 cuts / ≈18% of PF France headcount. Up to 690 employees eligible with 12-14 month reclassement leave paid at 75% of average gross monthly salary over 12 months. The 'post-Covid then inflation' syndrome cited as economic justification.
📄 Question parlementaire AN n°6677 + Surf Finance (2023) · View source →