Credit Agricole mulls new investment bank cuts: DJ
PARIS (Reuters) - French bank Credit Agricole (CAGR.PA) is mulling a new round of job cuts in its investment bank, Dow Jones reported, citing unnamed sources.
A Credit Agricole spokeswoman declined to comment.
The report did not say how many jobs would be affected by the latest round of layoffs, which would come on top of 1,750 cuts announced late last year at the investment banking arm.
Credit Agricole's Cheuvreux brokerage is also expected to cut 350 to 380 jobs as part of its sale to independent rival Kepler, sources said in October.
While Credit Agricole and its larger rivals BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA) laid off thousands late last year, few additional staff reductions have been announced since, even as peers from UBS to HSBC have slashed jobs aggressively in recent months.
(Reporting By Christian Plumb and Matthieu Protard; editing by Keiron Henderson)
- Tweet this
- Share this
- Digg this
- Alabama man claims penis was amputated by mistake
- Russian military likely reluctant participants in Ukraine-US general
- UPDATE 4-Liberian man in Lagos being tested for Ebola
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- UPDATE 2-U.S. says Russia firing artillery over border at Ukraine military
India blocked an agreement on new global customs rules on Thursday, angering fellow members of the World Trade Organization who say Delhi's veto could be costly, economically and politically. Full Article