ING to cut 2,700 jobs in Holland

Financial services group ING is to cut its Dutch workforce by 2,700, including 1,000 permanent positions, NOS tv reported on Wednesday.

No compulsory redundancies are expected because most jobs will go by not renewing contracts, NOS said. The insurance operations will be hardest hit.
The job losses are part of a global reduction of 7,000 jobs at the company announced in January. These come on top of another 4,000 job losses stemming from the merger of ING’s Postbank operations into ING itself.
ING booked a loss of €1bn in 2008.

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