PARIS Dec 15 Credit Agricole's French
retail bank unit LCL is to cut 750 to 850 of back-office jobs -
or 20 percent of its support functions - over the next two years
as part of a voluntary redundancy plan, a union source said.
LCL is cutting staff and closing branches as declining
revenue in a low interest rate environment forces the bank to
The source confirmed an earlier report by French newspaper
Les Echos which said that the plan would not imply any layoffs
and was meant for employees who retire soon or who would accept
change jobs in the group.
LCL is already undergoing a plan to cut 1,400 staff in its
networks over 2015-2018.
LCL declined to comment.
(Reporting by Maya Nikolaeva and Julien Ponthus; Editing by