French banking group Credit Agricole is to cut 2,350 jobs around the world, including 850 positions in France, mainly at its Cacib investment bank, the Force Ouvriere (FO) union said on Wednesday. At Cacib, 1,750 jobs will be cut globally, including 550 in France, said FO's representative for the bank, Bernard Pechard.
The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world. Pechard said he expected more job cuts would be announced when similar meetings are held at other Credit Agricole subsidiaries, including leasing arm Calef, which has 3,100 employees, and equity broker Chevreux, which has 800.