Société Générale to Cut 1,800 Jobs in France by 2027 Without Forced Layoffs

Société Générale announced on January 22, 2026, its plan to reduce its workforce in France by 1,800 jobs by the end of 2027. This downsizing will affect various central functions at the headquarters in La Défense as well as regional retail banking operations but will spare the agency network. The bank, which employs approximately 40,000 people in France, intends to carry out these cuts through natural attrition and internal mobility, explicitly avoiding forced layoffs or voluntary departure plans.

The announcement follows a previous reduction of 900 positions in 2024, also achieved without forced departures, as part of a broader cost-cutting strategy led by CEO Slawomir Krupa. The current plan aims to streamline Société Générale's operations to enhance efficiency, agility, and responsibility.

The CGT union criticized the management's approach, describing it as a "fait accompli" and expressing concerns about the lack of traditional support mechanisms for affected employees. According to CGT, the bank relies on a natural attrition rate approximating 5%, including retirements and voluntary departures, combined with limited new hiring, to reach its workforce reduction goals. The announcement will be presented to employee representatives, with an extraordinary plenary session expected by the end of April to validate the plan.

This strategic workforce reorganization illustrates Société Générale's effort to adapt amid challenges in the banking sector while avoiding the social unrest associated with forced redundancies.