The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
900 jobs Number of planned job losses
Announcement Date
12 May 2010
Employment effect (start)
12 May 2010
Foreseen end date
31 December 2012
Description
Banking group Société Générale will cut 900 positions across its retail banking network over the next three years. The bank will make the reductions indirectly by not replacing employees who retire in its 3,000 branches nationwide. The cuts form part of its strategic plan for the next five years.
In spite of the job cuts, the company spokesperson said that the recruitment plan is not suspended; the group intends to recruit 1,200 across its banking network until 2012.
Sources
11 May 2010: AFP
Citation
Eurofound (2010), Société Générale, Internal restructuring in France, factsheet number 70548, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70548.
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