SocGen in Russia – To cut 1,500 jobs

Societe Generale SA plans to eliminate about 1,500 jobs in Russia this year as the country’s economic contraction squeezes profitability, according to a person with direct knowledge of the discussions. 

Societe Generale cut about the same numbers of positions in Russia in 2014, said the person, who asked not to be identified because the matter is private. The Paris-based bank employs about 20,500 in Russia, mainly at OAO Rosbank, its consumer banking unit, the person said.

Chosen excerpts by Job Market Monitor. Read the whole story at SocGen’s Russian Bank Unit Will Cut 1,500 Jobs This Year – Bloomberg Business.