(AFP / SAMEER AL-DOUMY)
The banking group Société Générale announced on Monday the elimination of around 900 positions at its headquarters, “without forced departures”, or around 5% of the workforce at its headquarters, as part of a plan to reduce its costs already announced.
“The objective is to group and pool certain activities and functions, to remove hierarchical layers to simplify decision-making processes” and to “resize certain teams,” explained the group in a press release.
This job reduction plan is the first by Slawomir Krupa, general director of the bank since May 2023. Its scale is almost double compared to the information published on January 19 by the Bloomberg agency, which reported a plan providing for more 500 positions eliminated.
The bank made public on September 18 a target of 1.7 billion euros in savings by 2026 (compared to 2022), during the presentation of the bank’s strategic orientations by Mr. Krupa, which was poorly received on the stock market. .
According to the newspaper Les Echos, which revealed the extent of this plan on Saturday, the group’s central functions in La Défense, near Paris, and IT are the main ones affected by the job cuts.
Submitted on Monday for consultation with staff representative bodies, the job cuts will be made “through internal mobility, activity transitions or voluntary departures”, indicated Société Générale.
Société Générale employs some 56,000 people in France, out of 117,500 worldwide, according to its reference document.