French bank Societe Generale plans to cut 947 jobs, 5% of its head office staff, as part of cost-cutting measures.

French bank Societe Generale plans to cut 947 jobs, 5% of its head office staff, as part of its cost-cutting program. The bank aims to reduce costs by €1.7 billion by 2026 compared to 2022 without forced departures and submitted for consultation with staff representative bodies. This move follows similar actions by other global banks, such as Deutsche Bank and Citigroup, as they seek to reduce headcount amid slowing interest rates.

February 05, 2024
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