Crédit Agricole Faces Major Strike Over Pay and Jobs

Thousands of employees across France’s largest mutual bank, Crédit Agricole, took part in a rare national strike this week. The walkout marks growing frustration among staff over stalled wage negotiations and concerns about job security tied to a restructuring plan known as “Efficacité” (Efficiency).

Industry observers are calling this one of the most significant labour actions in the French banking sector in recent years.

Unions Unite in Nationwide Protest

Five major unions — CGT, SNECA (CFE-CGC), SNIACAM, Sud, and UNSA — representing nearly two-thirds of Crédit Agricole’s 78,000 regional employees, joined forces to demand better pay and stronger job guarantees.

Their core demands include:

Fairer wage adjustments to match rising inflation.
Clear job security guarantees amid restructuring.
Greater transparency from management regarding the “Efficiency” plan’s long-term impact.

Union representatives criticized management for offering a 0.5% general salary increase, viewed as insufficient given inflation of over 1%. Talks collapsed late last year, setting the stage for Thursday’s walkout.

“They’ve closed the door and don’t intend to reopen it,” said Alain Valle, CFDT union delegate in Lorraine.

The “Efficiency” Plan Under Fire

At the heart of the dispute lies the controversial “Efficacité” (Efficiency) program — a sweeping initiative aimed at streamlining operations across Crédit Agricole’s 39 regional branches.

According to reports from Les Échos, the plan suggests:

Consolidating some insurance and loan management services on just three national sites (Toulouse, Lille, and Saint-Brieuc).
Reducing staff dedicated to insurance claims from 180 to just 130.
Accelerating branch closures — over 112 in 2025 alone, twice the previous rate.

Union leaders argue the plan will “inevitably lead to hundreds of job losses”, worsening already high workloads and anxiety among staff.

“It’s not only a question of lost jobs but of lost purpose,” said Jean-Yves Salvat, Sud-Crédit Agricole Mutuel representative. “There’s a real lack of respect in how this transformation is being handled.”

Management Defends Its Strategy

Despite the mounting backlash, Crédit Agricole’s leadership insists the goal is modernization, not layoffs.
François-Xavier Heulle, Deputy General Director of Human Resources at FNCA, stated:

“We aim to ensure our people remain employable, not just employed. Mobility will be voluntary and supported.”

His colleague, Eric Gonce, deputy director overseeing transformation, admitted that the changes were “challenging but necessary” for long-term competitiveness.

A Bank Under Pressure Despite Huge Profits

The strike comes as Crédit Agricole celebrates near-record profits — nearly €3.2 billion in net income for the first nine months of 2025. Unions argue that such results make management’s austerity measures harder to justify.

Public sentiment, meanwhile, appears mixed. Many customers sympathize with the workers, but others worry about the disruption to local banking services — a concern felt especially in rural areas already hit by agency closures.

What Happens Next?

For now, both sides appear far from reconciliation.
The unions plan to reassess after this initial strike, leaving open the possibility of further protests if wage negotiations remain stagnant.

Observers note that Crédit Agricole’s handling of this dispute could set a precedent for labour relations across the French banking sector, especially as digital transformation and cost-cutting continue to reshape the industry.