Société Générale Initiates a Reorganization Targeting 1,800 Positions in France
Société Générale presented a project for organizational simplification to the staff representative bodies this Thursday, which could lead to a net reduction of 1,800 positions in France. According to the press release, this reorganization is part of the strategic roadmap of the group announced in September 2023.
According to the group, nearly 2,000 employees participated in a company-wide collective approach, generating several thousand ideas to enhance operational efficiency. These suggestions focus on optimizing tools and procurement, simplifying processes and organizational structures, pooling teams, as well as strengthening automation and the use of artificial intelligence. The project submitted this Thursday affects various activities and central functions at headquarters, as well as the regional organization of the Retail Banking; however, the branch network is not affected by these changes, the press release specifies.
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According to the group, the reduction of 1,800 net positions would rely on natural attrition and a social plan that invests in internal mobility and skill development. This transition would occur within the framework of the Employment Agreement signed on December 15, 2025, with three trade unions, without a layoff plan, the company indicates. The group plans to enhance training throughout careers via the Société Générale University. A Mobility and Skills Campus would also be created to facilitate internal mobility, by creating bridges between different entities and promoting diverse career paths.
Gradual Implementation of Changes
According to the press release, the envisaged changes would be implemented gradually in 2026 and 2027 for the concerned activities, following the consultation of the staff representative bodies. For Retail Banking in France, the deployment schedule could extend beyond this period, the group specifies. This organizational simplification aims to make operating modes more efficient, empowering, and agile, in service of the clients, according to the company.
En 2025, nous avons franchi une étape déterminante dans la transformation de notre Groupe, avec des revenus et un résultat net records et une distribution exceptionnelle d’actions.
Revenus 2025 à 27 254 millions d'euros, résultat net part du Groupe 6 002 millions d'euros; ROTE 10,2%; coefficient d’exploitation 63,6%; coût du risque 26 pb; distribution 4 679 millions d’euros; CET1 13,5%; dividende par action 1,61 EUR; programme de rachats d'actions de 1 462 millions d'euros; objectif 2026: croissance des revenus >2%, coût du risque 25-30 pb, coefficient d’exploitation <60%.
Outlook / guidance
Expected revenue: Croissance des revenus attendue en 2026 supérieure à 2% par rapport à 2025.
Expected EBITDA: EBITDA attendu en 2026 en progression par rapport à 2025, sans chiffre cible communiqué.
Expected net income: Résultat net attendu en 2026 avec une ROtE supérieure à 10%.
Management commentary: La direction confirme ses objectifs pour 2026 et vise une rentabilité accrue et une meilleure maîtrise des coûts.
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