Societe Generale SA (SCGLF.PK, SCGLY.PK) is considering to cut jobs at its investment bank and find a partner for its cash-equity business in a bid to offset increasing cost pressure from regulation, Bloomberg reported citing people familiar with the matter.
Source: www.rttnews.com
Societe Generale SA (SocGen) is planning to cut jobs at its investment bank and find a partner for its cash-equity business. This decision is being made in attempt to offset increasing cost pressure from regulation. SocGen is still contemplating which parts of the business would bear the reductions. The company intends to cut €500 million ($567 million) of costs and review less profitable investment-banking activities after a grueling fourth quarter.
