Morningstar

Societe Generale to Trim French Workforce

Provided by Dow Jones Jan 22, 2026, 7:52:00 AM

By Elena Vardon

Societe Generale said it intends to cut around 1,800 jobs in France as part of an effort to keep a lid on costs.

The French bank said the roles affected include those at its headquarters and its retail banking division's regional organization, though its branch network isn't affected.

The workforce reduction is set to be achieved through natural attrition and a slowdown in hiring by the end of 2027 and potentially beyond, without undertaking any layoffs, it said.

Societe Generale submitted the proposal, which it said is aimed at simplifying its operating methods to serve clients more efficiently, to trade unions on Thursday.

The CGT union said Wednesday that the planned cuts were out of a pool of 40,000 positions.

According to the bank's website, the lender employs 119,000 staff globally.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

January 22, 2026 02:52 ET (07:52 GMT)

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