Société Générale : new retail bank in France
(CercleFinance.com) - Today Société Générale is submitting an extensive file that specifies the model and detailed organisation of its new retail banking in France to its social partners.
The main principles are a new model based on a complete merger of the two retail banks Crédit du Nord and Société Générale, a locally based bank that has 11 regions with reinforced responsibilities, a territorial network of 1,450 branches, a more responsive, accessible and efficient bank, a bank that adapts more to the specific needs of each category of customers to be in the top 3 in terms of customer satisfaction, and a responsible Bank with an acceleration of CSR commitments.
In 2025, the new bank aims to have 25,000 employees, meaning 3,700 net job cuts between 2023 and 2025.
As a responsible employer, the group has made strong commitments which are confirmed: the merger will be carried out without any forced departures. These job cuts will be based on natural departures (estimated at 1,500 per year by 2025). A priority will be given to reclassifications and internal mobility, it said.
The group confirms that the legal merger will take place on 1 January 2023. On that date, all Crédit du Nord employees will automatically join the new organisation. The IT merger will take place in the first half of 2023.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The main principles are a new model based on a complete merger of the two retail banks Crédit du Nord and Société Générale, a locally based bank that has 11 regions with reinforced responsibilities, a territorial network of 1,450 branches, a more responsive, accessible and efficient bank, a bank that adapts more to the specific needs of each category of customers to be in the top 3 in terms of customer satisfaction, and a responsible Bank with an acceleration of CSR commitments.
In 2025, the new bank aims to have 25,000 employees, meaning 3,700 net job cuts between 2023 and 2025.
As a responsible employer, the group has made strong commitments which are confirmed: the merger will be carried out without any forced departures. These job cuts will be based on natural departures (estimated at 1,500 per year by 2025). A priority will be given to reclassifications and internal mobility, it said.
The group confirms that the legal merger will take place on 1 January 2023. On that date, all Crédit du Nord employees will automatically join the new organisation. The IT merger will take place in the first half of 2023.
Copyright (c) 2021 CercleFinance.com. All rights reserved.