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Without denying the information, the banking group – which employs some 56,000 people in France – declined to make any further comments for the moment.
The Société Générale banking group is reportedly preparing to announce to its employees on Monday that it will eliminate “around 900 positions”according to a newspaper article The echoes published Saturday. The group’s central functions in La Défense, near Paris, and IT should be mainly affected, according to the economic daily. Société Générale employs some 56,000 people in France, out of 117,500 worldwide, according to its reference document.
Contacted by Le Figaro this Saturday, the group declined to comment. If confirmed, this job reduction plan would be the first for Slawomir Krupa, general director of the bank since May 2023. And its scale would be almost doubled compared to the information published on January 19 by the Bloomberg agency, which had reports a plan to eliminate more than 500 positions.
Read alsoSociété Générale could cut 500 jobs in France
A target of 1.7 billion euros in savings
Slawomir Krupa seeks to relaunch the bank after fifteen checkered years under the leadership of Frédéric Oudéa, punctuated by crises and scandals (consequences of the Kerviel affair, indictment of the bank in the Panama affair Papers or even a search last year at the headquarters on the file “cum”…). The bank thus made public on September 18 a target of 1.7 billion euros in savings by 2026 (compared to 2022), during the presentation of the bank’s strategic orientations by Slawomir Krupa, poorly received on the stock market. .
This figure included savings already announced, such as those generated by the merger between the two retail banking networks in France, Société Générale and Crédit du Nord, and by the takeover of Leaseplan by the automobile leasing subsidiary ALD. The merger of the Société Générale and Crédit du Nord networks is accompanied by a significant reduction in the number of agencies – 1,450 agencies in 2025 compared to 2,100 five years earlier – and 3,700 positions eliminated, a “effort” distributed between 2023 (around 30%), 2024 (50%), 2025 (20%), without forced departure.
“Management has not denied the rumors”
The merger of the Société Générale and Crédit du Nord networks is accompanied by a significant reduction in the number of agencies – 1,450 agencies in 2025 compared to 2,100 five years earlier – and 3,700 positions eliminated, a “effort” distributed between 2023 (around 30%), 2024 (50%), 2025 (20%), without forced departure. Several unions had expressed their concerns in recent days.
“Management has not denied the rumors of a plan to cut jobs in Parisian central services”the SNB-CFE-CGC was alarmed at the end of January on its website. “Given the trauma of employees who see job cuts one after the other (…) it is urgent that management expresses itself on these possible projects”had insisted the first union of the bank.
The CGT Société Générale (3rd organization) for its part assured Thursday on its website that “it has been a few weeks since all of the rooms in the historic towers of the Société Générale de La Défense were requisitioned” as of Monday, in anticipation of the announcement of the job reduction plan. “We are now waiting for an honest and transparent presentation of the scale of the reorganizations, their real economic justifications, their motivations and their medium or long term objectives”the union had asked.