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.
Grenoble, Nice, Rennes, Strasbourg, Nancy and Poitiers
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.99 - Other financial service activities, except insurance and pension funding n.e.c.
289 jobs Number of planned job losses
Announcement Date
28 May 2014
Employment effect (start)
1 January 2015
Foreseen end date
Description
Crédit Agricole subsidiary LCL bank is to close six of its 25 back-office administrative centres. 289 jobs are expected to be lost by 2016. A total of 1060 are expected to be cut by 2018.
The French bank with 13,600 total workforce, plans to close four after-sales service centres in Grenoble, Nice, Rennes and Strasbourg by January 2015 and move their activities to other back-office divisions. Furthermore, two centres in charge of document digitalisation activities in Nancy and Poitiers are to cease their operations (the first one in the second semester 2015 and in the second semester 2016 the second one) since their activities will be outsourced.
As reported the final number of job cuts depends on the natural attrition rates (2,000 people are expected to retire per year by 2018) and the company plans to internally replace only one out of two retirements (with 1,000 recruitments per year until 2018).
According to the sources the restructuring is due to the increasing automation of banking activities and the development of electrical signature.
Sources
13 June 2014: Les Echos
28 May 2014: Les Echos
Citation
Eurofound (2014), LCL, Internal restructuring in France, factsheet number 77092, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77092.
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