FX.co ★ Societe Generale Announces Job Cuts At Head Office In France - Quick Facts

Societe Generale has announced a restructuring plan for its head office in France in an effort to streamline its operations. This reorganization will lead to around 900 job reductions, however, the company has vowed there will be no forced exits. Measures such as internal transfers, end-of-year support or voluntary departures will be employed as part of the company's social pact to aid those affected.

In September 2023, Societe Generale expressed its objective to progressively and significantly enhance its cost/income ratio. The goal is to accrue gross savings of approximately 1.7 billion euros by 2026 in comparison to the figures of 2022.