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

850 jobs
Number of planned job losses
Job loss
Announcement Date
15 December 2011
Employment effect (start)
1 January 2012
Foreseen end date
31 December 2012

Description

On December 15th the French bank Crédit Agricole has announced that it is to cut 850 jobs in France by December 2012. The restructuring will mainly affect the bank's Corporate and Investment Banking arm BFI, where 550 jobs will be cut in France. The measure is part of a worldwide restructuring which will affect 2350 employees (see here)

The management is reported wanting to avoid forced redundancies and will propose internal mobility and voluntary departures.


Sources

Citation

Eurofound (2011), Crédit agricole, Internal restructuring in France, factsheet number 72853, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72853.