PARIS - Societe Generale, one of France's big four commercial banks, said it would reduce domestic branch staff by 2.5% in a major restructuring of its operations.
With 23,000 people employed in Societe Generale's network, a 2.5% reduction would amount to about 600 positions.
Societe Generale, which has $224 billion in assets, is moving to trim costs in tandem with the country's other national banks. It did not release further details of the restructuring plan.
The top five banks and thrifts have combined total assets of nearly $13 trillion.
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