SocGen to Cut Investment Bank Bonuses 20% After Trading Hit
- Bank cutting bonus pool across company by average 15%
- Some traders of equity derivatives saw cuts above 80%
Societe Generale headquarters in Paris.
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Societe Generale SA will cut the bonus pool at its investment bank by about 20%, after trading hits in 2020 handed the group its first losing year in more than three decades.
Across the company, payouts are being reduced by an average of 15%, according to a person familiar with the matter, who asked not to be named discussing confidential matters.