The jury is still out on banks' staff cuts
Article Abstract:
Societe Generale SA and Paribas SA will not make a decision on staff reductions until February 17, 1999. This is according to an individual who is close to the situation. Societe Generale and Paribas are merger partners. Both firms have established regional and product group committees that will study every division's clientele and budget. Staff reductions will not take place until the committees submit their findings.
Comment:
Societe Generale and Paribas will not make decision on staff reductions until February 17, 1999
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Credit Lyonnais denies liability in suit
Article Abstract:
Credit Lyonnais denied that it had any financial liability in a California insurance commissioner's lawsuit filed against it and other firms. Credit Lyonnais claimed that its Altus Finance SA subsidiary, which was charged with wrongdoing, was ceded to Consortium de Realisation (CDR) in 1995. The consortium was a government-owned firm. The French government gave CDR many of the struggling assets of Credit Lyonnais.
Comment:
Denies any financial liability in a California insurance commissioner's lawsuit filed against it
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Credit Lyonnais board backs share offering for employees
Article Abstract:
Credit Lyonnais SA directors have approved a new capital increase for its workforce. The firm's employees will receive discounted shares valued at 31 euros per share. This is 26% lower than the price on the market.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
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