Societe Generale Announces Job Cuts At Head Office In France - Quick Facts

(RTTNews) - Societe Generale (SCGLF.PK, SCGLY.PK) has announced a plan to implement organisational changes in its head office in France to simplify operations. The company said the implementation of these organisational changes would result in approximately 900 job cuts at head office without forced departures. The company noted that it would deploy all the support measures as part of its social pact through internal transfers, end-of-year support or voluntary departures.

In September 2023, the company announced its goal of gradually and significantly improving cost/income ratio, with the achievement of approximately 1.7 billion euros in gross savings in 2026 compared with 2022.