Calyon

Type
Merger/Acquisition
Country
France
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.11 - Central banking
670 - 858 jobs
Number of planned job losses
Job loss
Announcement Date
3 February 2005
Employment effect (start)
Foreseen end date
31 March 2005

Description

858 jobs were expected to be suppressed following the merger between Credit Agricole's Calyon and Crédit Lyonnais. The bank announced on 3 February 2005 that 78% of the suppressions were realized. By 20 January 2005, the following job reductions were as follow: 28% of external mobility, 50% of internal mobility (two third within Calyon, and one third in the Group), 17% benefit from early retirement, 5% from other measures (part-time work, etc..).

Sources

  • 3 February 2005: Les Echos

Citation

Eurofound (2005), Calyon, Merger/Acquisition in France, factsheet number 61132, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61132.