(Full story)
Oct 1 (Reuters) - French brokerage Cheuvreux is likely to cut hundreds of jobs as part of Credit Agricole's sale of the unit to rival Kepler, according to two sources familiar with the matter, the latest in a wave of job cuts to hit equity trading firms.
Credit Agricole said in July it was in exclusive talks to sell Cheuvreux, which employs about 700 people worldwide, to independent financial services group Kepler Capital Markets.
"We've been given pretty strong signals that around 350 to 380 jobs are to be cut at Cheuvreux," a union source told Reuters. "We've met with Credit Agricole CIB, they are indicating that this will be the scale of cuts that will hit staff."
(Reporting by Lionel Laurent, Christian Plumb and Astrid Wendlandt)
Oct 1 (Reuters) - French brokerage Cheuvreux is likely to cut hundreds of jobs as part of Credit Agricole's sale of the unit to rival Kepler, according to two sources familiar with the matter, the latest in a wave of job cuts to hit equity trading firms.
Credit Agricole said in July it was in exclusive talks to sell Cheuvreux, which employs about 700 people worldwide, to independent financial services group Kepler Capital Markets.
"We've been given pretty strong signals that around 350 to 380 jobs are to be cut at Cheuvreux," a union source told Reuters. "We've met with Credit Agricole CIB, they are indicating that this will be the scale of cuts that will hit staff."
(Reporting by Lionel Laurent, Christian Plumb and Astrid Wendlandt)
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