The job cuts aimed mainly at group’s corporate and investment banking division are expected to take effect in 2012 under an agreement with trade unions.

The bank said that the reduction would be based on voluntary departures and will give priority to internal mobility within the group.

The project will be presented to workers’ councils, with a view to being implemented from the beginning of April 2012, added the bank.

Societe Generale will continue to pursue a hiring policy in France and expects to hire at least 2,500 staff in its retail banking division in 2012.

In December 2011, French banking group Credit Agricole has revealed it plans to slash 2,350 jobs worldwide amid Euro debt crisis.