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 64.19 - Other monetary intermediation
375 - 400 jobs Number of planned job losses
Announcement Date
7 November 2013
Employment effect (start)
1 January 2014
Foreseen end date
31 December 2015
Description
Bank group Societe Generale has announced to cut up to 400 positions in France by 2015. According to a union, 375 job cuts will be made.
The measure is to affect the bank’s corporate and investment banking, private banking and assets management. Positions under threat are within management, administration, and IT services.
In the meanwhile, the group will create 250 positions in Bangalore (India) where it operates a shared services center.
Previously in 2013 and 2011, Societe Generale had announced a total of about 1,500 job cuts in France.
Sources
7 November 2013: Les Echos
7 November 2013: Le Monde
Citation
Eurofound (2013), Societe Generale, Internal restructuring in France, factsheet number 76149, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76149.
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