ING

Type
Offshoring/Delocalisation
Country
Belgium
Region
Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest; Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest; Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad
Location of affected unit(s)
Brussels
Sector
Financial / Insurance/ Estate
66 - Activities auxiliary to financial services and insurance activities
66 - Activities auxiliary to financial services and insurance activities
66 - Activities auxiliary to financial services and insurance activities
New offshoring locations
Netherlands
100 jobs
Number of planned job losses
Job loss
Announcement Date
16 January 2009
Employment effect (start)
2 February 2009
Foreseen end date
31 December 2009

Description

The Dutch Bank ING has announced 100 jobs losses within its Investment Management unit located in Brussels. The 'back-office' activities in charge of the transactions will be transfered to the Netherlands while the sale and marketing activities will remain in Brussels, employing 25 people. ING is the first bank in Belgium to announce redundancies since the financial crisis, which has seriously concerned the financial sector.

Sources

  • 17 January 2009: L'Echo
  • 16 January 2009: La Libre Belgique

Citation

Eurofound (2009), ING, Offshoring/Delocalisation in Belgium, factsheet number 67914, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67914.