SocGen Will Cut 2,000 Jobs by 2020 as Part of Branch Closures

  • French lender plans to cut 7% of retail workforce by 2020
  • SocGen has said it plans to shut 20% of French branch network

Societe Generale SA plans to cut 2,000 jobs, or 7 percent of the workforce, at its main French retail unit through 2020 as more clients switch to online services, adding pressure on the lender to revamp its branches network.

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