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Una Hajdari

Société Générale shares rise after announcement of 1,800 job cuts

Société Générale CGT France

French banking group Société Générale is planning to cut 1,800 jobs in France by the end of 2027 as part of a wide-ranging reorganisation, according to a statement from the CGT union, which says the plan had been presented to staff representatives without a dedicated support package.

By Thursday afternoon in Europe, Société Générale shares were trading over 2% higher on the news, amid a broader market rally across the continent.

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