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HomeBreadcrumbCalendarsBreadcrumbEconomic Calendar

Dutch ING axes 2.5 per cent of workforce

January 2013
Netherlands

Published: 7 Nov 2012 | By Eva HS | Last updated: 7 Nov 2012
   
Dutch ING axes 2.5 per cent of workforce -
ING
flickr- ING Nederland

Dutch financial services group ING banking is to axe 2.5% of its workforce by cutting 2,350 jobs at European insurance and commercial banking operations. 


The group, which employed 94,000 people in June, is preparing to repay the €10 billion worth of state aid it received in 2008 and bolster its revenue. 


A year ago, the Dutch central bank announced national banks were inefficient compared to foreign competitors and could save costs, a recommendation ING has taken seriously. 


"As we work to solidify strong standalone futures for bank and insurance, we are taking steps to increase our agility in this uncertain environment", ING chief executive Jan Hommen said. 


Dutch rivals ABN Amro and Rabobank have undergone similar axing measures.

Source
guardian.co.uk www.guardian.co.uk
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Created by Eva HSCreated by Eva HS
on Wed 7 Nov 2012
Modified by Eva HSLast modified by Eva HS
on Wed 7 Nov 2012
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Location: Netherlands
Expected date: January 2013
Planning: confirmed
Ended: 111 days ago

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