Societe Generale S.A. (GLE)

Index:

CAC 40

  26.39
   
  • Change Today:
     2.69
  • 52 Week High:  27.85
  • 52 Week Low:  20.11
  • Currency: Euro
  • Shares Issued: 799.30m
  • Volume: 15,267,248
  • Market Cap:  21,090m
  • Beta: 1.19

SocGen to cut around 900 jobs at head office

By Michele Maatouk

Date: Monday 05 Feb 2024

LONDON (ShareCast) - (Sharecast News) - Societe Generale confirmed on Monday that it plans to cut around 900 jobs at its head office in France as it looks to simplify its operations and improve efficiency.
The cuts represent around 5% of the bank's head office staff.

SocGen announced in a presentation last September that it was planning to "gradually and significantly" improve its cost/income ratio with around €1.7b in savings in 2026 compared with 2022.

"The objective is to group and pool certain activities and functions, remove hierarchical layers to streamline decision-making, and resize certain teams due to reviews of projects or processes," it said.

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GLE Market Data

Currency Euro
Share Price   26.39
Change Today   2.69
% Change 11.33 %
52 Week High  27.85
52 Week Low  20.11
Volume 15,267,248
Shares Issued 799.30m
Market Cap  21,090m
Beta 1.19

What The Brokers Say

Strong Buy 6
Buy 2
Neutral 11
Sell 2
Strong Sell 0
Total 21
buy
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Trades for 31-Oct-2024

Time Volume / Share Price
17:39 43 @  26.39
17:35 2,917 @  26.39
17:35 3,145 @  26.39
17:35 4,270 @  26.39
17:35 745 @  26.39

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