Credit Agricole mulls new investment bank cuts: DJ

PARIS Thu Dec 13, 2012 12:02am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

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)

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