Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

2,700 jobs
Number of planned job losses
Job loss
Announcement Date
3 November 2011
Employment effect (start)
Foreseen end date
31 December 2013

Description

Dutch financial services company ING plans to cut 2,700 jobs in the Netherlands. It is reported that ING will cut around 2,000 full-time staff and 700 contract positions.

ING has 19,000 full-time employees in the Netherlands. The announced restructuring affects 10.5% of its retail banking operations.


Sources

  • 3 November 2011: CNBC
  • 3 November 2011: Huffington Post
  • 3 November 2011: Reuters

Citation

Eurofound (2011), ING, Internal restructuring in Netherlands, factsheet number 72704, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72704.