The large French bank Societe Generale said end of 2021 that it would cut 3,700 jobs between 2023 and 2025 as it merges its sales network with that of its Credit du Nord branch, but at the same time added that there will be no forced redundancies.
“These job cuts will be based on natural departures (estimated at 1,500 per year by 2025) and priority will be given to reclassifications and internal mobility,” the financial company said in a statement.
The merger announced in September 2020 will create a bank with a branch network, a central office and an IT system serving nearly 10 million customers.
SocGen, the third largest creditor in France, said the regrouped network would have about 1,450 branches in 2025 and that this regrouping would not involve leaving any city in the country.
