Société Générale has announced its intention to cut 1.600 jobs worldwide, mainly in the investment banking sector. The country most affected by the cut will be France, where 752 cuts will be concentrated.
In any case, the banking giant said in a note that the job cuts in France, while also affecting retail banking activities, will be "limited to certain areas, as part of a voluntary exit plan".
According to the trade unions, the start of the operation is scheduled for the period from the end of May to the beginning of June.
The cut was brought forward last February, together with the publication of the 2018 budget results.
In today's note, Tuesday 9 April, it is also specified that "Société Générale is considering some strategic adjustments to better meet the expectations of its customers, while improving the structural profitability of its activities".
