Société Générale branch closures, Digi Mart USA News (France): The French bank Société Générale is considering closing 148 sites, including 40 branches, out of a network of about 1,770 sites, starting in the second quarter of 2027, a source close to the matter said. The source confirmed information first reported by the daily Les Échos.
The 148 closures represent 8% of the bank’s network. Among them is the elimination of 40 branches, each with 7 to 8 employees.
Most of the affected outlets, however, are described as “small sites,” such as “small counters with 2 to 3 employees” that will close from the second quarter of 2027 “in order to be consolidated into their main branch,” which is often located a few kilometers away, the source told AFP.
In total, Société Générale will go from 1,769 to 1,621 points of sale.
According to the same source, no layoffs are planned, but 40 branch manager positions will be eliminated. The employees concerned will be redeployed to other departments within the company.
In all, 376 employees will be transferred from their original site to another branch of the bank.
The bank says the aim of this “reorganization of the network” is to “enlarge existing branches to provide more advice and more expertise in one place.”
In a statement sent to AFP on Wednesday, the CGT-SG union opposed “imposed mobility” for employees when it harms “personal life.” It also called for full compensation for additional costs and commuting time, suitable premises before any transfer, staffing proportionate to activity, and monitoring of psychosocial risks.
“In 2026, 101 points of sale have already been closed. We are concerned about a network that shrinks year after year,” said Ludivine Perreaut, national union representative of the CGT-SG.
Société Générale declined to comment when contacted.
