French bank to cut 3,700 jobs

French bank Societe General Bank said on Tuesday it will cut 3,700 jobs between 2023 and 2025 as it merges its retail network with that of its unit Credit du Nord, but it added that there would be no forced redundancies, Report says, citing Nasdaq.

The new retail bank targets a headcount of 25,000 employees, and the job cuts will come about through natural attrition, which is estimated at 1,500 a year per annum until 2025.