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Société Générale to Reduce Employees to Trim Costs

MT Newswires·09/21/2026 01:15:30
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01:15 AM EDT, 09/21/2026 (MT Newswires) -- Société Générale (GLE.PA) said Monday it expects to reduce its workforce through natural attrition. The plan is part of the French lender's initiatives to reduce costs between 2026 and 2029, along with the reduction of procurement costs and IT spending. Gross savings for the period are expected to be 1.9 billion euros. The group is also looking to simplify its organization and integrate artificial intelligence into its operations, with support from a strategic partnership with Anthropic.