Following in the footsteps of its peers across the world, Credit Agricole (CRARY.PK) is to cut...

|About: Credit Agricole SA ADR (CRARY)|By:, SA News Editor

Following in the footsteps of its peers across the world, Credit Agricole (CRARY.PK) is to cut 2,350 jobs, primarily in investment banking, Reuters reports. The reductions are part of a back-to-basics strategy to focus on retail. So far this year, over 120,000 job losses have been announced in the global banking sector.