Société Générale Employees Strike Over Wage Disputes and Working Conditions

Unions across the bank protest insufficient compensation and deteriorating conditions, as management defends cost-cutting measures and a proposed 3% wage increase.

All unions at Société Générale have launched a strike on March 25, 2025, following the breakdown of wage negotiations in late 2024.
Unions argue the proposed 3% wage bill increase and €353 million in employee compensation for 2025 are inadequate given the bank's €4.2 billion profit in 2024, a 69% increase from the previous year.
CEO Slawomir Krupa's restructuring strategy, including the merger of Société Générale and Crédit du Nord, has led to 3,700 job cuts and heightened tensions with employees.
Unions criticize management for ignoring demands related to wage fairness, mobility opportunities, and deteriorating working conditions caused by successive cost-cutting measures.
Management emphasizes its commitment to dialogue and highlights the financial measures exceeding inflation, but unions remain dissatisfied, citing a lack of recognition for employee contributions.