DealBook: Credit Agricole to Eliminate Up to 2,300 Jobs

This article is by Freddie Laker, VP of global marketing strategy, and Hilding Anderson, research and insights director, both at SapientNitro. CMOs are struggling to adapt to a world that has fundamentally changed over the course of their careers. Disruptive digital technologies and the new expectations of the global consumer are [...]

Crédit Agricole became the latest French bank to announce plans to reduce its financing needs and boost capital in a move aimed at showing that it can adapt to recently harsher market conditions.

Crédit Agricole became the latest French bank to announce plans to reduce its financing needs and boost capital in a move aimed at showing that it can adapt to recently harsher market conditions.

Exposure to Greek debt and other damaged assets resulted in quarterly losses at Royal Bank of Scotland, Credit Agricole and Dexia.

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, the union said. The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world.

The Burrill Report submits:

The Burrill Report submits: Medical device giant Boston Scientific (BSX) said it would eliminate as many as 1,300 jobs or 10 percent of its workforce as part of a series of restructuring initiatives and management changes it says will drive profitable growth for the company. As part of these changes, the Natick, Massachusetts-based company says it will eliminate its international headquarters.