4.3 C
Brussels
Saturday, November 23, 2024
EconomyBig Bank cuts 3,700 employees by 2025

Big Bank cuts 3,700 employees by 2025

DISCLAIMER: Information and opinions reproduced in the articles are the ones of those stating them and it is their own responsibility. Publication in The European Times does not automatically means endorsement of the view, but the right to express it.

DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.

Gaston de Persigny
Gaston de Persigny
Gaston de Persigny - Reporter at The European Times News

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.

- Advertisement -

More from the author

- EXCLUSIVE CONTENT -spot_img
- Advertisement -
- Advertisement -
- Advertisement -spot_img
- Advertisement -

Must read

Latest articles

- Advertisement -