EMCC European Monitoring Centre on Change

Crédit foncier de France

Company/Organisation:
Crédit foncier de France

Geographic Location

Country: France
Location of affected unit(s): All units

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 2916
Group: BCPE

Employment Effects

Announcement Date: 23-11-2011
Planned Job Reductions min: 350
Planned Job Reductions max: 350
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2012
Other Job Reduction Measures: 350

Additional Information

On 23 November, the bank Crédit Foncier de France, announced to cut up to 350 positions in the following years.

The subsidiary of the French banking group BPCE is specialized in home loan. The aim of the reorganisation plan is to cut 12% of the workforce. Job cuts will represent one half of the 80 million Euros of annual saving expected by 2016. Job cuts will only consist of natural departures.