Societe Generale could shed 1,500 investment banking jobs as part of a cost-cutting plan, French newspaper Le Figaro reported.
In its Saturday edition the paper said the cuts would reduce SocGen’s global investment banking headcount by 7.5 percent. France-based staff would be the hardest hit, with more than 700 jobs on the line, the paper said, citing an internal document.
SocGen had said earlier this month it planned to restructure its investment banking activities as it looks for 500 million euros ($567 million) in savings. But the bank says no decisions have yet been taken about layoffs.
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