Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

550 jobs
Number of planned job losses
Job loss
Announcement Date
9 March 2016
Employment effect (start)
1 June 2016
Foreseen end date
31 December 2020


The management of the bank Société Générale has announced to its representative unions, a reorganisation of its back office platforms network. The bank will reduce the number of platforms from its current 20 to 14 in France by 2020. In the meanwhile, the platforms will be specialised and the bank will invest in the digitalisation of the processes. The reorganisation will lead to a cut of about 550 positions in the next five years, out of a total workforce in its network of agencies of 28,000 employees. According management, there will be no forced dismissals. The management explains this decision is part of a large program of change launched in 2015 that will also lead to the investment €1.5 billion in digitalisation and to increase its training budget to €150 million instead of the current €75 million. The announcement came five months after its announcement of the closure of 20% of its bank branches by 2020 that will lead to 2,000 positions being cut out of a total workforce of 28,000 working in the network (see ERM FS).  In September 2015,  Sociéte Générale already announced that it will cut 420 positions in France by the end of 2017 in the framework of a costs saving programme of €850 million in the bank’s corporate and investment banking sectors. A previous restructuring also affected these activities in 2013. The workforce of the bank has decreased over the last few years with restructuring announced at a worldwide level in 2012 and 2013; and in France in mid 2013 and end of 2013. Société Générale employed 148,300 people worldwide and 41,199 in France as of 31 December 2014.


  • 9 March 2016: Company press release
  • 10 March 2016: Les Echos
  • 11 March 2016: Normandie Actu


Eurofound (2016), Société générale, Internal restructuring in France, factsheet number 86685, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86685.