Tue May 15, 2012 5:48am EDT * Banks face weak markets and economy, regulatory clampdown * Lag many rivals in cuts. May have been waiting for election* Hollande pledges to fight layoffs but banks a question mark* Retail as well as investment bank jobs seen at riskBy Christian PlumbPARIS, May 15 (Reuters) - France's biggest banks are likely to cut thousands more jobs, catching up with European rivals as they grapple with a slowing economy, weak capital markets and a looming regulatory clampdown by new Socialist president Francois Hollande.Societe Generale, BNP Paribas and Credit Agricole announced a first wave of layoffs, mainly in investment bank and consumer credit businesses, late last year.But their cutting has been tentative compared with European peers like UniCredit and ING, ...
Continue reading →