The Société Générale and Crédit du Nord networks are being merged. Following the unveiling of the commercial brand of its future retail bank “SG”, the group with the red-black logo presented a branch closing program to employee representatives, which will be launched after the legal merger of the two networks in January 2023. Agefi had access.
In 2023, the group plans to launch a first wave of mergers by merging 157 agencies. The number of agency groupings will be 22 in the south-east, 20 in the Lyon region, 20 in the north, 17 in the west, 16 in Occitanie, 16 in the Ile de France and 16 in the Center region, 14 in the East region, 11 in Savoie and 9 in the southwest.
North and southeast in the front line
The social impact will, of course, depend on the size of the employment fund in these regions. It is in the north that damage will be more important with 164 net redundancies. 98 net job cuts will be made in the south-east, 96 in the Ile de France North region, 90 in the west, 78 in the Ile de France south, 72 in Occitanie, 65 in Lyonnais, 64 in the east, 46 in the east. Southwest, 45 in the Center region and 41 in Savoie.
In total, the Societe Generale Group will make 858 net redundancies in 2023 at its Societe Generale and Crédit du Nord branches. The majority of customers concerned are customer advisers (327) and premium customers (316).
Société Générale recalls Agefi that “the merger will take place without any forced departure“.”This job loss will be based on natural departures and priority reclassifications and internal mobility. In some professions and areas of employment, additional measures have been introduced to encourage voluntary departuresIn fact, the group signed a company agreement in 2011, which regulates voluntary departures in order to implement an external project. As part of the merger negotiations, the group also signed an agreement with the social partners on a collective termination mechanism with a risk of compensation for employees who cannot be retired or in transition.
By 2025, 415 points of sale will be closed
According to a summary of the project updated in December 2021, it Agefi The company was able to consult, with management identifying 411 cases of point-of-sale consolidation between the Societe Generale and Crédit du Nord networks, but also more marginally within the same network. These consolidations will in fact lead to the elimination of 415 outlets by 2025 (in some cases three are to be merged). Today, both networks have a total of 2,441 points of sale, including 1,729 for Société Générale and 712 for Crédit du Nord.
The new retail bank that will be created by the mergerthey will be anchored locally to be closer to customers“, Société Générale clarifies.”So we do not leave any city within a group of agencies. This system will also represent more points of sale for our customers: 15% more points of sale for Societe Generale customers compared to 2020 and almost 3 times more for Crédit du Nord customers“.
The merger of Société Générale and Crédit du Nord will also accompany job losses at regional headquarters, back offices and medium offices. Société Générale specifies k Agefi that “the new retail bank will maintain a significant volume of annual recruitment throughout this transformation, following the 1,400 permanent recruitments made in 2021 in retail banking in France“In total, taking into account the planned job creation during this period, 3 723 net jobs will be lost by 2025. It is in the regional sales departments that this job reduction will be most significant:.