Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.92 - Other credit granting

204 jobs
Number of planned job losses
Job loss
Announcement Date
19 December 2014
Employment effect (start)
1 January 2015
Foreseen end date
31 December 2015


GE Money Bank has announced that it is to cut up to 204 jobs from its French subsidiary. The company has decided to stop its activities of consumer credit and lending for house purchase and to focus on restructuring of mortgage-backed and automobile loans. This restructuring will lead to a cut of 25% of the total workforce within the subsidiary of the US multinational General Electric. Since 2010, the bank has launched three job cuts plan that affected a total of 250 employees mainly in its network of agencies in France. Management has indicated that the bank is to small to be competitive in these two markets while dealing with new financial legislation. The bank intends to centralise its operational workforce in its site of Nantes.


  • 19 December 2014: Les Echos


Eurofound (2014), GE Money Bank, Internal restructuring in France, factsheet number 78023, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78023.