ING strokes 7000 Jobs – MIRROR ONLINE

The banking crisis the Dutch financial group ING. The parent company of the well-known in Germany, ING-Diba-the direct Bank wants to cap thousands of jobs, especially in the Netherlands and in Belgium.

REUTERS

ING headquarters in Brussels

Monday, 03.10.2016 15:53 PM

low interest rates and high cost of the ING a radical step. The largest Dutch financial services provider, stroking 7000 and aligns its business is increasingly following the model of the German direct Bank subsidiary ING DiBa. With the job losses, mainly in Belgium and the Netherlands, the workforce will shrink by nearly twelve percent, according to the Institute.

It is the removal of the largest positions at the Bank since the government rescue seven years ago. The group is aiming to save each year until 2021, around 900 million Euro. The tag should also drive the shift of customers to advance business on the Internet, it said. For investments of € 800 million are planned.

“Such programs and projects must be approached from a Position of strength,” said Bank chief Ralph Hamers in a telephone conference. The results of operations and growth, developed well. Tags are therefore useful, not only when there is no other choice.

The strongest cuts are in Belgium, where 3500 jobs will be eliminated. In the Netherlands, a further 2300 Jobs will be deleted. Costs for severance payments in the next quarter to a special load of one billion euros. ING employs around 52,000 staff, so that the 7000 will Set the computer account for a decline of almost 13.5 percent. Almost 1000 jobs will disappear, however, in the case of the connected service providers.

your investment in the digitisation of the Dutch plan in Austria, the Czech Republic, Spain, Italy and France. There, the ING want-group-domestic top dogs, especially with Online Banking market shares decrease as the group-with its pure Internet business in Germany is managed by the German Bank customers to steal. Bank chief Hamers explained that the Internet business start now, not only in Northern Europe, but everywhere. Online giants such as Google and Facebook have increased the expectations of the virtual banking business in all of the ING markets.

yes/Reuters

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