Economy Société Générale announces 640 net job cuts, particularly in...

Société Générale announces 640 net job cuts, particularly in its investment bank

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648x415 une banque de la societe generale en isere le 7 novembre 2020

A Société Générale bank in Isère, November 7, 2020. – ROMAIN DOUCELIN / SIPA

Société Générale announced on Monday forecast the net elimination of 640 jobs in France without forced departures, especially within its corporate and investment bank in order to improve profitability.

This announcement, published in a press release, comes after the group warned in August that it intended to improve the profitability of its market activities through a reduction in costs of around 450 million euros by 2022. -2023. Job cuts are also being considered within central departments, which include, among other things, human resources and communication.

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