Societe Generale says to cut 550 jobs over five years

Wed Mar 9, 2016 12:48pm EST
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PARIS (Reuters) - French bank Societe Generale (SOGN.PA: Quote) said on Wednesday it would shed 550 jobs over five years as part of consolidation of its 20 French client treatment centers into 15 sites.

The bank said that the plan, part of a push to cut costs at its retail network while investing in digital banking, would not rely on mandatory redundancies.

(Reporting by Leigh Thomas; editing by Michel Rose)

A French Bank Societe Generale logo is seen on the facade of their building in Paris, March 3, 2016.  REUTERS/Christian Hartmann