Crédit foncier de France

Type
Internal restructuring
Country
France
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
350 jobs
Number of planned job losses
Job loss
Announcement Date
23 November 2011
Employment effect (start)
1 January 2012
Foreseen end date

Description

On 23 November, the bank Crédit Foncier de France, announced to cut up to 350 positions in the following years.

The subsidiary of the French banking group BPCE is specialized in home loan. The aim of the reorganisation plan is to cut 12% of the workforce. Job cuts will represent one half of the 80 million Euros of annual saving expected by 2016. Job cuts will only consist of natural departures.

Sources

  • 23 November 2011: L'Expansion.com ()

Citation

Eurofound (2011), Crédit foncier de France, Internal restructuring in France, factsheet number 72796, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72796.