BNP Paribas affected after its resistance to the crisis

Withstanding rather well the crisis at first, BNP Paribas has finally been hit with the repercussions of Lehman brothers' bankruptcy and the Madoff scandal. On December 16, BNP Paribas has announced 710 million EUR (900.8 million USD) in losses over the first eleven months of the year. This loss shall be accompanied by the dismissal of 800 to 1000 people, that is, 5% of the bank's staff members.