SG redundancies to hit markets business hardest

By Francesca Young
06 Jun 2019

Société Générale’s planned round of redundancies, set to happen in the third quarter of the year, will focus on staff in its markets business. Around 30% of the 1,600 cuts are expected in that division.

A further 15%-20% will hit prime service, while 10% will come from elsewhere in the investment bank. It is not yet known where the rest of the cuts will occur.

GlobalCapital understands that several bankers have approached the French bank's management and put their hands up for voluntary redundancy ...

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