Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

250 jobs
Number of planned job losses
Job loss
Announcement Date
10 September 2008
Employment effect (start)
15 September 2008
Foreseen end date
31 December 2008


France-based Credit Agricole has announced that it would cut investment banking jobs by the end of 2009. The company has announced that it is planning to cut about 250 jobs at Calyon in France and 1,200 more jobs could be threatened. Its investment banking arm, after the unit reported 6.5 billions euros in writedowns linked to the credit crisis. The bank said that it would try and cut costs by 300 millions euros by the end of next year through measures such as shedding staff and closing businesses.

The bank said half of the job cuts at Calyon would come through voluntary redundancies and 'natural turnover' in its French business. About 250 jobs are to be cut from the bank's international operations.


  • 11 September 2008: Le Point
  • 11 September 2008: LibĂ©ration
  • 10 September 2008: La Tribune
  • 8 September 2008: Le Figaro


Eurofound (2008), Calyon, Internal restructuring in France, factsheet number 67041, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67041.