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October 25, 2021
BUSINESS

SocGen to relocate part of financial operations

Targeted countries – Romania, Morocco and India.

Societe Generale will relocate some of its financial and IT operations to Romania, Morocco and India, Eric Boyere, leader of the CFTC labour union from Societe Generale, said on an interview for L’Express, quoted by hotnews.ro. The Societe Generale group has initiated an Ambition 2015 plan seeking to improve cost effectiveness and financial efficiency, leading to the termination of over 1,000 jobs worldwide in the next three years, 550 of them being at the group’s Paris headquarters, the plan being to save a total of EUR 900 M. ‘Natural retirements have been selectively replaced according to business requirements, as a rule,’ Adela Jansen, HR Executive with BRD-Groupe Societe Generale explains in an interview for HotNews.ro.

‘Our strategy includes a social protection component for the employees, a competitive package of benefits being important on a medium to long term. Apart from classic compensation methods, the package also proposes a complex set of services in the network of private healthcare providers, life insurance policies, discount programmes with many merchants for our employees, etc.’ Jansen concluded.

 

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