The bank Société Générale has planned a new-cost cutting drive that would result in hundreds of job losses, as its first-quarter net income fell sharply. The planned 900 million euros of cost reductions through 2015, add up to the 550 million euros of cuts of 2012. The bank says that it is in talks with the unions about eliminating 600 to 700 jobs at its headquarters, but added that there would be ‘no forced layoffs’.
English: http://dealbook.nytimes.com/2013/05/07/societe-generale-announces-new-cuts ...
For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.