2024-02-03 22:12:10
According to insiders, the major French bank Societe Generale wants to cut around 900 to 1,000 jobs, following the job cuts at other banks. These are mainly jobs in IT and other departments at the headquarters in the La Defense business district near Paris, three people familiar with the plans told Reuters on Saturday.
The project, which was first reported by the newspaper “Les Echos”, is related to the austerity program announced by bank boss Slawomir Krupa. The bank declined to comment.
The figures cited by the insiders correspond to just under two percent of the French workforce of 52,000 employees and less than one percent of the 112,000 employees worldwide. Krupa said in September that he wanted to reduce costs by 1.7 billion euros by 2026 and thus increase the bank’s profitability and share price. Internationally, several banks have recently announced job cuts.
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