SocGen’s Russian Unit Said to Cut Hundreds of Jobs in Moscow
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Societe Generale SA’s Russian consumer-banking unit, OAO Rosbank, is cutting hundreds of back office jobs as it continues cost-reduction efforts, two people with knowledge of the matter said.
Rosbank is eliminating the positions at its Moscow headquarters, the people said, asking not to be identified because the matter is confidential. The Russian firm employs about 13,500 people. Officials at Societe Generale and Rosbank declined to comment on number of job cuts when reached by telephone.