The group Societe Generale announced on Tuesday that its new retail bank, resulting from the merger of its network with that of Crédit du Nord, will result in 3,700
net job cuts between 2023 and 2025, “without any forced departure”. “These job cuts will be based on natural departures (estimated at 1,500 per year by 2025) and the priority given to reclassifications and internal mobility,” the group said in a press release.
“We use a progressive approach, spread over time,” assured AFP Sébastien Proto, deputy general manager of the group. “This allows us to start all of our training, individual support, well ahead of the effective implementation of the transformation. “
1,450 branches against a total of 2,100 today
The Societe Generale group filed on Tuesday a file with its social partners specifying the model and the detailed organization of its new Bank retail in France. It is based on “a complete merger” of the two retail banks Crédit du Nord and Société Générale: “a single bank, with a single network, a single head office, and a single system
computer science, serving nearly 10 million customers and over 25,000 employees, ”the group said in its press release.
The bank will benefit from “a territorial network of 1,450 branches ensuring the maintenance in the same cities as today”. In total, the two networks held some 2,100 at the end of 2020, sometimes close to each other. According to Sébastien Proto, the grouping of agencies “will begin in 2023 and run until 2025”. The legal merger is expected to take place on January 1, 2023, with a merger of the two IT systems in the following months.