Societe Generale to axe 1,800 roles in home market [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
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Source: Yahoo! Finance
The move comes as part of a broader organisational restructuring that has been submitted for consideration to employee representatives. As part of its restructuring efforts, Societe Generale recently conducted a collaborative programme involving nearly 2,000 staff members. This initiative gathered thousands of suggestions from employees on ways to enhance efficiency, including the consolidation of teams, process simplification, better procurement practices, and expanding the use of automation and AI. In a statement, the bank said: “In line with its strategic roadmap announced in September 2023 and its ambition for sustainable performance, Societe Generale continues to enhance its operational efficiency, simplify its organisation, and invest in skills development and internal mobility.” The planned changes would affect several central functions at the France, bank's headquarters and some regional areas within the retail banking sector; however, the branch network itself will n
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