The yet to be officially announced move is aimed at offsetting regulatory cost pressures.

On Friday, as per a report from Bloomberg, French bank Societe General SA, plans on trimming thousands of jobs at its global banking and investor solutions unit.

The officially unannounced move is aimed at offsetting cost pressure from regulation reported Bloomberg citing sources familiar with the matter at hand.

Societe General SA is also reportedly looking for a partner for its cash-equity business, said the report.

Societe Generale did not immediately respond to requests for comments.

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Tags: Bloomberg, business, cash, costs, equity, global banking, investor solutions, jobs, pressures, regulations, Societe General SA, unit