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
Ministers from nearly 160 member countries of the World Trade Organisation entered a final day of negotiations on Friday with officials sounding optimistic over chances of salvaging a deal that would save the trade body from sliding into irrelevance. Full Article