Location of affected unit(s)
Avignon, Bordeaux, Bordeaux Lac, La Chaussée Saint-Victor, Limoges, Paris, Quimper, Rennes, Saint- Brieuc, Vannes, Dijon, Ifs, Montpellier, Nancy, Nantes, Rouen, Grenoble, Marseille and Lyon
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

491 jobs
Number of planned job losses
Job loss
Announcement Date
5 April 2017
Employment effect (start)
1 August 2017
Foreseen end date
31 December 2021


The bank specialised in mortgage loan, Crédit immobilier de France, has announced a reorganisation to reduce its network of agencies from currently 25 to 2 by the end of 2021.  The bank, saved by the State with the agreement of the European Commission, must cease all its mortgage loan activities by 2035. The CIF will close 16 sites in 2017 (10 in September and 6 in December).  Three other will be closed between 2019 and 2021. The sites and their employees will be mainly transferred to MCS Group, in the framework of a partnership,  who is the leader in the acquisition and management of bank claims in France. However, in the framework of this reorganisation, an employment security plan has been signed with the unions to mitigate the impact on the 491 dismissed employees. This plan includes, external reemployment supports (paid redeployment leave of 12 to 15 months, assistance of specialised firms to help each employee to construct a new professional project...) as well as systematic research, on a very early stage, on each of the sites going to be closed, of partners likely to tender job offers.


  • 5 April 2017: Le Figaro
  • 5 April 2017: Crédit Immobilier de France (Press release)


Eurofound (2017), Crédit immobilier de France, Merger/Acquisition in France, factsheet number 91501, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91501.