Bloomberg News

SocGen Voluntary Departure Plan Is Oversubscribed, Echos Says

April 11, 2012

Societe Generale SA (GLE)’s voluntary departure plan is oversubscribed with about 2,200 employees so far expressing a wish to leave, while the bank is seeking to cut 880 investment-bank jobs, Les Echos reported.

The newspaper cited CFDT labor union official Thierry Pierret. About 1,300 of the requests come from people who work in areas that will be affected by the job-cut plan, the newspaper said.

To contact the editor responsible for this story: David Whitehouse at dwhitehouse1@bloomberg.net


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