PARIS, Sept 10 - Credit Agricole, France’s biggest retail bank, said on Wednesday it would cut 500 jobs at Calyon, its investment banking unit that has been badly hit by the global credit crunch.

Half of the cuts will take place in France and the other half at Calyon’s international operations, which include sizeable offices in London and New York. Calyon employs around 13,000 staff across 58 countries.