— Board of directors to propose dropping dividend payout

— Agricole joins list of banks laying off staff, reducing investment-banking activities.

— Agricole will book a EUR500 million provision

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PARIS (Dow Jones)–Credit Agricole SA (ACA.FR), France’s third-largest listed bank, warned Wednesday that it would post a net loss for 2011, as the lender goes on a stringent diet in response to the deepening sovereign debt crisis.

As part of its restructuring plan, Credit Agricole said it would cut 2,350 jobs globally, including 850 in France; retreat …