Société Générale shares rise after announcement of 1,800 job cuts [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
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Source: Yahoo! Finance
to a statement from the CGT union, which says the plan had been presented to staff representatives without a dedicated support package. By Thursday afternoon in Europe, Société Générale shares were trading over 2% higher on the news, amid a broader market rally across the continent. The proposed cuts come just weeks after the signing of a new employment agreement covering the 2026–2028 period, and would be carried out through natural attrition rather than early retirement or voluntary departure schemes, the union said. Management is expected to formally submit the restructuring file to unions on Thursday, alongside a broader internal communication. In a statement following a meeting with senior executives, including the group's secretary general Alexis Kohler, the CGT said unions were summoned individually to be presented with the reorganisation plans, rather than consulted in advance. “The approach is neither correct, nor honest, and certainly not constructive,” the union s
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