Societe Generale, one of the leading banks in France, in the capital markets department until 2023. Reported that aimed to reduce costs of 450 million euros, 534 million dollars.

It is stated that most of the layoffs will take place in the office in the Paris region.

The newspaper Les Echos reported that the layoffs came after the bank reported a better-than-anticipated third-quarter profit after its worst performance in a decade.