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Layoffs Watch ’12: Crédit Agricole

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]

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16 Responses to “Layoffs Watch ’12: Crédit Agricole”

  1. guest says:

    Ha, "new year."

    -mayans

    • UBS LatAm DCM MD says:

      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.

  2. Guest says:

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

  3. Guest says:

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

  4. Im_a_Dude says:

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

  5. DSK says:

    I am always considering sackings.

    • ijlal says:

      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.

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  6. All the same thing says:

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

    • PermaGuestII says:

      Eight letters?

      • HUM says:

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    • Jacque says:

      No difference.

      – Head of branding at BNP Paribas.

  7. Michael Scarn says:

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

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