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Société Générale (réorg. 2026)
Main severance
No departure plan
Health cover
Statutory portability (12 months)
Status
In negotiation
Positions affected
NET reduction of 1,800 positions in France by end-2027
Context
Why the plan was launched and who is affected
Sites affected
France: central functions (HQ, La Défense) and Retail Banking regional organisation. Branch network not affected.
Rationale & context
Net reduction of 1,800 positions by end-2027 in a simplification drive (efficiency, automation, AI), with no departure plan.
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Severance
What employees received — legal base, supra-legal, caps
Legal / collective indemnity
This is the minimum guaranteed by your sector's collective agreement. Paid to every affected employee on top of the statutory legal indemnity.
Banking agreement (IDCC 2120). Absent a published PSE scale, the statutory/collective severance indemnity applies as a minimum.
Underlying formula · Flat amount by classification + seniority scale. Collective indemnity generally above legal minimum (often 1/4 month/year from start).
Supra-legal top-up
The amount negotiated by unions ON TOP OF the legal and collective minimum. Often the largest part of the package.
Information not public
Notice period
Period between the dismissal notification and the actual departure. The employee remains paid during this time, whether they work or not.
Not specified in the PSE.
Collective minimum · Banking agreement (IDCC 2120) — Managers: 3 months (renewable once). Technicians: 2 months. Employees: 1 month.
Example — rough estimate
For a manager (cadre) employee with 5 years of seniority and €3,500 gross/month:
| Collective severance | (1.25 months × €3,500) | €4,375 |
| Supra-legal severance | — | Not publicly disclosed |
Very rough illustrative estimate. Your actual amount depends on your exact reference salary (max of 1/12 of last 12 months or 1/3 of last 3 months, bonuses included — art. R1234-4 French Labour Code), your precise status (manager/non-manager/ETAM), your hire date and your individual situation. For a personalized calculation of the legal indemnity, use the official French Ministry of Labour simulator.
Notes & sources
Additional information and references
Notes
'Organisational simplification' project presented 22/01/2026. Net reduction (no outright layoffs), branch network excluded. FO denounces a 'silent PSE'.
- NET reduction of 1,800 positions, not 1,800 layoffs.
- 'No departure plan' and 'no forced departures' per management.
- HQ/central functions + Retail Banking regional organisation; branch network excluded.
- No public supra-legal severance (no PSE/PDV/RCC).
- Distinct from the Crédit du Nord merger (2022) and the ~900 HQ cuts (Feb 2024).
Support
Outplacement, training, retraining aid and mobility
No one has documented this point for this plan yet. If you've been through it or have the document, your help will make this file useful to the next person.
Selection
How departures are decided — criteria and voluntary scheme
No one has documented this point for this plan yet. If you've been through it or have the document, your help will make this file useful to the next person.
📄 Communiqué Société Générale (22/01/2026) ; franceinfo ; AEF info ; communiqués FO/CGT SG · View source →