Société Générale announced its plan to axe 1,800 of its staff in France on Thursday amid cost-cutting efforts.
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Chief executive Slawomir Krupa is attempting to slow down spending by reducing the jobs available in France by 1,800 out of 40,000.
The bank is looking to avoid large job cut programmes that have high redundancy payouts and leave gaps in staff and instead will pursue the job cuts through voluntary leave or retirement.
The General Confederation of Labour (CGT) trade union told the FT that staff cuts were “deficient” and should include more options for staff to move or retrain internally, and voluntary redundancies.
Krupa, who has lead SocGen since 2023, has made staff cuts and sold off businesses since taking office.