French banking giants Societe Generale and BNP Paribas have announced plans to slash headcount as part of restructuring measures to reduce costs.
Societe Generale plans to cut 1,800 jobs in France by the end of 2027, the bank said in a statement on Thursday. The reductions will be carried out through natural attrition (not replacing staff who leave) rather than formal terminations, as the lender aims to move away from expensive redundancy programs, according to Financial Times.
The bank, which employs some 40,000 people in France, previously cut 900 posts at its headquarters in 2024. This was part of a broad efficiency drive launched by CEO…
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