(CercleFinance.com) – In the wake of its strategic roadmap presented in September 2023, Société Générale announces a reorganization project within the headquarters in France in order to simplify its operations and structurally improve its operational efficiency.
‘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 due to the review of projects or processes,’ specifies the bank.
This reorganization file, which would constitute an important step in achieving the additional savings of around 700 million euros envisaged, is being submitted today for consultation with staff representative bodies.
At the end of this consultation scheduled for the second quarter of 2024, the implementation of these organizational changes would result in approximately 900 job cuts at headquarters without forced departures (i.e. approximately 5% of the headquarters workforce).
‘As a responsible employer, Société Générale would deploy all the support measures in force in its social pact through internal mobility, activity transitions or voluntary departures,’ adds the group.