Societe Generale said on Thursday it would cut 1,800 positions in its French retail banking branch and potentially beyond.
The announcement follows a press statement published by labour union CGT on Wednesday, which said the lender was planning a reorganisation of its around 40,000 strong workforce in France.
The job cuts are expected to happen throughout 2026 and 2027, Societe Generale said in a press release.
"These initiatives are accompanied by a proposed organizational evolution in France, which concerns several activities and central functions at headquarters, as well as the regional organization of Retail Banking," the bank said.
To meet the target, Societe Generale will leverage natural attrition and invest in internal moves and developing employees' skills, it added. - Reuters
