Nationalised bank SNS to slash workforce by around 20%


SNS Bank is planning to cut its workforce by between 800 and 900 jobs, the Financieele Dagblad said on Friday.

SNS, which has been owned by the Dutch state since 2013, currently has a workforce of some 4,000 and unlike other big Dutch banks has not carried out a major overhaul in recent years.

The aim of the job cuts is to save a structural €100m a year, the bank said.

Tens of thousands of jobs have been cut in the financial services industry in recent years. ING recently announced plans to cut 7,000 jobs in the Netherlands and Belgium.

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