Shares of French banking group Société Générale rose on January 22, 2026, following the bank’s announcement that it plans to reduce its net workforce in France by 1,800 positions as part of a broader organisational simplification and efficiency push. The company’s stock traded higher by more than 2 percent in European markets on the day the plan was unveiled.
The proposed reduction will occur through natural attrition and internal mobility, with the bank aiming to balance workforce optimisation with investments in skills development and career transitions. The job cuts are part of a strategic roadmap designed to simplify internal structures, increase agility, and strengthen operational efficiency across several functions at the bank’s headquarters and within the regional organisation of its retail banking business. Retail branch networks are not expected to be affected.
Société Générale has submitted the organisational simplification project to employee representative bodies as part of planned changes that will be implemented gradually in 2026 and 2027, following consultations. The move builds on an employment agreement signed in December 2025 with three trade unions, which outlines frameworks for internal mobility, training and support for employees transitioning into new roles.
Trade unions have expressed concerns about how the changes were presented, noting that plans were shared with staff representatives only shortly before the public announcement. Union sources argue that the process lacks detailed support measures for those affected, even though management emphasises that cuts will be absorbed through attrition rather than compulsory layoffs.
The plan reflects broader trends in the European banking sector, where institutions are increasingly restructuring in response to competitive pressures, digital transformation and cost-efficiency goals.
Societe Generale and SWIFT settle tokenized bonds using cash and stablecoins
