Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Netherlands, Belgium
Sector
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

2,400 jobs
Number of planned job losses
Job loss
Announcement Date
13 February 2013
Employment effect (start)
28 February 2013
Foreseen end date
1 January 2015

Description

On 13 February 2013, Dutch-based bank and insurance company ING announced its plans to cut an additional 2,400 jobs throughout its Dutch and Belgian retail operations.

The measures form part of a wider cost-cutting strategy and are taking place in addition to the 2,350 job cuts announced in November 2012 (see here). For details on the current Belgian restructuring see here.

According to news reports, since 2011 the bank has reduced its workforce by around 7,500 which represents about 10 per cent of its staff.


Sources

  • 13 February 2013: International Business Times
  • 13 February 2013: manager magazin

Citation

Eurofound (2013), ING, Internal restructuring in European Union, factsheet number 74915, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74915.