By scrapping, the workforce would ‘be balanced’ with the future growth of the bank in these activities.
The jobs at ING disappear in the part that serves large business customers, proportionally spread over the locations where ING is active. Of the employees, 80% are in Europe, Middle East and Africa, 12% in Asia and 8% in America. A spokesperson cannot say how many functions are deleted in the Netherlands. ABN AMRO also recently announced a reorganization in which jobs of investment bankers will be deleted.
Surplus of managers
In addition to weakness on the market due to demand for its loans and other services, the bank also has a surplus of managers, the mail to the staff is apparent. Jobs that are being deleted are mainly at the level of managing directors and directors in functions that have contact with customers. According to the bank, there are not enough junior rolls at the bank. By cutting into the higher layers, according to the spokesperson, there would be more room for younger, junior employees to grow.
Reorganization investment bank ABN AMRO
People who lose their job will be supported by finding new work inside and outside the bank.