Societe Generale is expected to announce 900 job cuts this Monday

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Société Générale banking group is preparing to announce to its employees on Monday that it will be liquidating “About 900 positions”According to a newspaper article the echo Published on Saturday. According to the economic daily, the group’s central functions and IT in La Défense near Paris should be mainly affected. Société Générale employs about 56,000 people in France out of 117,500 worldwide, according to its reference document.

was contacted by Le Figaro This Saturday, the group declined to comment. If confirmed, this would be the first planned job cut for the bank’s General Director Slovomir Krupa since May 2023. And its scale will almost double compared to information published by the Bloomberg agency on January 19, in which the plan was reported. Eliminate over 500 positions.

Also readSociété Générale may cut 500 jobs in France

A target of 1.7 billion euros in savings

Punctuated by crises and scandals (results of the Curvial affair, the indictment of the bank in the Panama Papers or the search at headquarters last year), Slovomir Krupa tries to restart the bank after fifteen checkered years under the leadership of Frederic Odea. file “less”…). The bank thus announced on September 18 a target of 1.7 billion euros in savings by 2026 (compared to 2022).

The figure includes savings already announced, such as those generated by the merger between two retail banking networks in France, Société Générale and Crédit du Nord, and the takeover of Leaseplan by automobile leasing subsidiary ALD. With the merger of the Société Générale and Crédit du Nord networks, the number of agencies has fallen significantly – 1,450 agencies in 2025 compared to 2,100 five years earlier – and 3,700 positions have been eliminated, “effort”

2023 (about 30%), 2024 (50%), 2025 (20%), distributed without forced departure.

“Management does not deny rumours”

With the merger of the Société Générale and Crédit du Nord networks, the number of agencies has fallen significantly – 1,450 agencies in 2025 compared to 2,100 five years earlier – and 3,700 positions have been eliminated, “effort” 2023 (about 30%), 2024 (50%), 2025 (20%), distributed without forced departure. Several unions have expressed their concerns in recent days.

“Management does not deny rumors of plans to cut jobs at Parisian central services”The SNB-CFE-CGC warned on its website in late January. “Given the trauma of employees who are cut one job after another (…) it is urgent that management expresses itself on these potential projects”The first union of banks was insisted upon.

The CGT Societe Generale (3rd Institute) for its part confirmed on its website on Thursday that “It has been a few weeks since all the rooms in the historic towers of the Societe Generale de la Defense have been requisitioned” until Monday, pending an announcement of job-cutting plans. “We now await an honest and transparent presentation of the scale of the reorganization, their real economic justifications, their motivations and their medium or long-term objectives”

Sangh asked.