Société Générale - French bank Société Générale is set to slash 1,500 jobs in its corporate and investment banking business, according to the Le Figaro newspaper. The bank is planning for two scenarios which both expect 1,500 jobs to be cut in France, Europe, the UK, the US and Asia. Around 700 of the job losses would be in France, according to an internal company document cited by Le Figaro. A statement from Société Générale said it would not be possible to comment on the job losses as it was still assessing business within the corporate and investor client business. The CGT trade union could not confirm the information, but said it was expecting hundreds of jobs to go. The cuts are part of the bank’s strategy to reduce costs by 500 million euros as announced by Société Générale in its financial results earlier this month.
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