SocGen Cutting 1,600 Jobs in Blow to Investment Bank

Investment banking unit targeted as Oudea seeks turnaround
SocGen says about 750 jobs in France will go as part of cuts

The job losses will likely be felt mainly in SocGen’s investment banking unit. Bloomberg’s James Hertling reports.(Source: Bloomberg)

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By Fabio Benedetti Valentini

April 9, 2019 at 5:44 AM UTC

Updated on

April 9, 2019 at 2:26 PM UTC

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Societe Generale SA said it plans to cut about 1,600 jobs after a slump in trading revenue pushed Chief Executive Officer Frederic Oudea to intensify efforts to boost profit at the investment-banking unit.