Societe Generale Proposes Workforce Reduction in France
One of France’s leading banks, Societe Generale, has proposed a plan to reduce its workforce by approximately 1,800 positions. This move, primarily achieved through “natural attrition”, forms part of a broader organisational restructuring plan that the bank has presented to its employee representatives for consideration.
A Collaborative Approach to Restructuring
In the spirit of collaboration and efficiency, Societe Generale recently initiated a programme involving close to 2,000 staff members. This exercise generated a wealth of suggestions from employees, focusing on areas such as team consolidation, process simplification, improved procurement practices, and greater use of automation and AI technologies.
The bank’s statement highlighted their strategic roadmap and ambition for sustainable performance, stating, “Societe Generale continues to enhance its operational efficiency, simplify its organisation, and invest in skills development and internal mobility.”
Impact of the Proposed Changes
The suggested changes would primarily affect several central functions at the bank’s headquarters in France and some regional areas within the retail banking sector. However, the bank reassures that its branch network will not be impacted.
Societe Generale aims to streamline operational procedures and enhance customer service responsiveness through these proposed measures. The bank has also stated that the planned job cuts align with terms agreed upon with three trade unions, as part of an employment agreement signed in December 2025.
Supporting Employee Transitions
Societe Generale has emphasized that there will be no formal redundancy plan, favouring instead internal transfers within the group. To aid employees affected by these changes, the bank plans to strengthen its training programmes and introduce a new Mobility and Skills Campus. This initiative is designed to support career development and ease transitions within the bank’s various business units.
The bank anticipates implementing these organisational adjustments throughout 2026 and 2027 for most areas involved, following discussions with employee representatives. The bank also notes that further changes could be in store for retail banking operations beyond these years.
Societe Generale’s Recent Innovations
In 2025, Societe Generale introduced anti-financial crime technology from Palantir Technologies into its international retail banking operations. The tools developed on the Palantir Foundry platform feature advanced analytics and machine learning capabilities. These are aimed at identifying and addressing financial crimes such as money laundering and fraud, further enhancing the bank’s commitment to trustworthiness and customer security.
Through its ongoing restructuring efforts and investment in advanced technologies, Societe Generale continues to demonstrate its commitment to operational efficiency, employee development, and customer satisfaction. As these changes unfold, the bank’s focus remains on sustainable performance and organisational simplicity.
Read more about Societe Generale’s proposed workforce reduction and restructuring plan Here.
