ABN Amro to cut 6,500 jobs, say unions

Tuesday 19 May 2009

ABN Amro is poised to cut 6,500 jobs in an effort to cut costs by 20%, banking union officials said on Tuesday.

The bank's CEO Gerrit Zalm is due to inform staff about his plans to merge ABN Amro and Fortis Nederland later today. Both banks have been nationalised after Fortis got into financial difficulty last year following its partial takeover of ABN Amro.

Zalm, a former finance minister, has been put in charge of the merger.

The unions also said Zalm had done a u-turn on earlier pledges that there would not be any compulsory redundancies, news agency ANP said.

© DutchNews.nl

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