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September 23, 2021

SocGen eyeing a transfer of staff to Romania – union

French bank Societe Generale, which is attempting to finalize a plan to cut up to 700 mainly back-office jobs at its Paris headquarters, is targeting around 420 voluntary departures as part of the plan, union officials have told their members in a newsletter, Mediafax informs, quoting French newspaper Les Echos. France’s No. 2 listed bank is also eyeing a transfer of staff, around 200 jobs, to Romania to help save costs, the CGT union’s online newsletter said, as the lender begins a push to cut expenses and lift profit amid a still-uncertain recovery for the euro zone. A SocGen spokeswoman said it was too early to provide detailed numbers on the voluntary departure plan, which was proceeding normally and in line with agreements with staff.

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