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Société Générale: redundancy plan in France.

(CercleFinance.com) - Société Générale has announced a new phase to adapt its retail banking network in France.

This plan could lead to about 900 redundancies, in addition to the 2,550 already announced in early 2016, bringing the total to about 3,450 by 2020.

This restructuring, as well as the acceleration of the upgrading of certain compliance mechanisms, will lead the banking group to book an extraordinary charge of approximately 400 million euros in its Q4 2017 accounts.

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