PARIS, France, Jan 22, 2026 (BSS/AFP) - French bank Societe Generale is planning to cut 1,800 jobs in France by the end of 2027 as part of restructuring measures, the bank said Thursday, adding there would be no forced layoffs.

France's third-largest bank, which employs some 40,000 people in France, said the jobs would go in the form of "natural" shedding and "internal mobility" as part of its reorganisation plans to reduce costs and bolster its capital position.

The job cuts, which were to be officially announced to staff representatives later Thursday, cover "several core activities and functions at headquarters, as well as the retail bank's regional organisation," the bank stated.

"The branch network is not affected," it added.

The CGT union, which had revealed the plan outline Wednesday, slammed what it called a "fait accompli."

"For management, the natural attrition rate of five percent (covering voluntary departures or retirements) and the low number of job openings mean there is no need for support measures we have seen up to now until now," such as voluntary departures or voluntary redeployment, the union regretted.

In February 2024, the bank had already announced it was shedding some 900 posts at its headquarters without any forced departures, amounting to five percent of the headquarters' workforce, as part of a broad cost-cutting plan launched by new CEO Slawomir Krupa.

Employee representatives are due to approve the plan at an April special plenary meeting.