PARIS: Society General Bank of France on Tuesday decided to cut its as many as 1,600 staffers working in different branches of the company across the globe.

Among those laid off  are 750  staffers from France alone. The bank took a decision to this effect in order to implement its two big restructuring projects.

“To ensure profit-oriented and sustainable growth at the international banking and financial service is the main goal of the move,” said the bank.

The staffers from France are given voluntary retirement while those from other countries dealt with in line with the local regulations and laws.

A total of 148,000 staffers are currently working in this multinational investment bank worldwide.

(Agencies)