French bank facing Cayman labour scandal

(CNS Business): BNP Paribas has come under fire locally for reportedly laying off Caymanian employees, attracting the attention of labour enforcement officers, who are said to have visited the bank’s offices in Cayman. CNS Business understands that several Caymanians have been laid off by the French bank, which operates in Cayman providing a range of banking and fund administration services. Rumours within the financial services industry suggest that BNP Paribas is in the process of shutting down its Cayman fund administration operation and has already started laying people off.

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