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

354 jobs
Number of planned job losses
Job loss
Announcement Date
11 July 2019
Employment effect (start)
1 October 2019
Foreseen end date


Banque Populaire Grand Ouest, resuloting from the merger among Banque Populaire de l'Ouest, Banque Populaire Atlantique, and Crédit Maritime, the bank should close 86 to 96 branches in a territory that extends from the Normandy region to the Pays de la Loire region. This restructuring plan should be accompanied by 354 job cuts in 12 departments. The reasons given are insufficient profitability and productivity and rapidly changing consumption patterns of banking services. A social plan that ends at the end of the year has already resulted in the loss of 206 jobs.

The trade union representatives stated that employees consider this project unnecessarily destructive of local jobs, in contradiction with the bank's values. Furthermore, customers will be directly impacted by the closure of local branches and by changes in opening hours.



Eurofound (2019), Banque Populaire Grand Ouest, Merger/Acquisition in France, factsheet number 98140, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98140.