• 12 Dec 2012 at 2:40 PM

Layoffs Watch ’12: Crédit Agricole

By

Zee French are considering some sackings in the new year.

Crédit Agricole SA is considering a new round of job cuts at its corporate and investment bank, according to three people with direct knowledge of the matter, as the French lender forges ahead with plans to slim down after being battered by the euro-zone crisis. It was unclear how many positions could be affected by the new layoff plan, but according to one of the people, close to 200 employees in the unit signaled their interest in a buyout under staff cuts announced 12 months ago, but remain employed at the bank. The Paris-based lender, which is expected to post a loss for the full year, largely because of a loss on the sale of its troubled Greek unit, could announce cuts early next year, the person added.

[WSJ]

Comments (13)

  1. 1
    Posted by DSK | December 12, 2012 at 3:44 PM

    I am always considering sackings.

  2. 2
    Posted by guest | December 12, 2012 at 2:52 PM

    Ha, "new year."

    -mayans

  3. 3
    Posted by All the same thing | December 12, 2012 at 3:56 PM

    What is the difference between Credit Agricole and Socgen and Credit Lyonnais?

  4. 4
    Posted by Guest | December 12, 2012 at 3:14 PM

    CFO: We need to fire some IB people.
    CEO: But I am le tired.
    CFO: Well, take a nap… AND THEN FIRE ZEE ANALYSTS.

  5. 5
    Posted by Guest | December 12, 2012 at 3:16 PM

    Poor guys. It was only a matter of time before senior management found out that they had a corporate and investment bank.

  6. 6
    Posted by UBS LatAm DCM MD | December 12, 2012 at 3:26 PM

    This whole apocalypse thing is obviously a ploy to keep LatAm CDS prices down so they Mayans can get them for a steal ahead of hedge funds doing to many other sovereigns what they're doing to Argentina.

  7. 7
    Posted by Im_a_Dude | December 12, 2012 at 3:42 PM

    Bess and Matt and the lucky 40 chosen,
    good luck by the reading tonight. very sorry I cant make it.

  8. 8
    Posted by PermaGuestII | December 12, 2012 at 4:30 PM

    Eight letters?

  9. 9
    Posted by Michael Scarn | December 12, 2012 at 5:19 PM

    In other news, the Houston Astros and Washington Wizards have each released a couple of players, but like this, no one cares.

  10. 10
    Posted by Jacque | December 12, 2012 at 10:10 PM

    No difference.

    - Head of branding at BNP Paribas.

  11. 11
    Posted by ijlal | April 23, 2013 at 4:11 AM

    http://www.currentsportsplus.com
    He gets a pass this year. But I am worried about some things next year. Hopefully the FO won’t sit on their hands again.

  12. 12
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  13. 13
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