Société Générale had already announced its plans by 2020 to reduce costs by some €500m.
French bank Société Générale announced on Monday its plans to eliminate 1,600 jobs.
Bloomberg reported that around 750 of those jobs will be cut in France, and hundreds of others in New York and London. Most of the reduction is taking place in BFI, its corporate and investment banking unit.
The move comes as a response to improve Société Générale’s profitability; the bank had already announced its plans by 2020 to reduce costs by some €500m.
Société Générale, which employees around 150,000, is based in over 70 countries.