In an official statement, Societe Generale confirmed that the reductions will cover the retail network and selected central functions at the headquarters.
This information coincided with earlier reports from the CGT trade union, which warned about planned reductions already on Wednesday.
The employment reduction process is to be spread over years 2026-2027. The bank emphasizes that it strives to achieve the goal in an amicable manner.
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“These initiatives are accompanied by a proposal for an organizational evolution in France, which concerns a number of central activities and functions at the headquarters, as well as the regional organization of retail banking,” said the statement, quoted by Reuters.
To minimize social impacts, Societe Generale plans to use the so-called natural staff rotation (not filling places left by people retiring) and invest in internal mobility and improving the qualifications of current employees.
Let us remind you that the bank has been managed by a Pole, Sławomir Krupa, for several years.
Societe Generale is one of the oldest and largest financial groups in Europe. Founded in 1864, the Paris-based bank is a pillar of the French economy. It operates in three main areas: retail banking, solutions for corporate clients and investment services.
The group operates in 66 countries, serving over 25 million customers. It employs approximately 126,000 people worldwide. employees representing 145 nationalities.
