SocGen: Mulls thousands of job cuts

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SocGen: Mulls thousands of job cuts from investment unit

Societe Generale: Mulls thousands of job cuts from investment unit for increasing cost of meeting regulation demands

  • The bank could cut up to thousands of jobs at its global banking
  •  SocGen is considering to cloe its proprietary-trading unit
  • The bank is still examining which parts of the business would see the effect
  • They are reviewing less profitable investment-banking activities after a negative fourth quarter
  • The bank is looking to set a joint venture for its cash equity and research