Monday, October 3, 2016

Financial group Dutch ING announces up to 7,000 job cuts – the Observer

The financial group Dutch ING will fire up to 7,000 employees, most of them in Belgium and in the Netherlands, in the framework of the plan to save eur 900 million per year until 2021, the company said in a statement.

"While still we are not finished with all the plans that we presented today, we hope that the initiatives will result in a reduction of around 3,500 jobs for full-time in Belgium and about 2,300 in the Netherlands between 2016 and 2021," said the executive chairman of the ING, Ralph Hamers, before presenting the plans of the institution at a meeting of investors in Amsterdam.

Hamers, Chief Executive Officer (CEO) of ING, said that, "unfortunately, the steps announced today will mean that a significant number of colleagues will have to leave the ING", and assured that the company "will do everything it can to help" find new job opportunities.

In the past day 29 steembro, the belgian press has advanced in Belgium would be reduced to 4,000 jobs.

at the same time, ING has announced that it will invest 800 million euros until 2021 in the digital transformation, focusing on commercial growth, in the improvement of the customer experience in 'Web' and the availability of new products.

Hamers indicated that since the ING started the renewal strategy in 2014 attracted more than three million new customers, gave about 56,000 million euros, and reinforced the capital.

Among the plans of the entity, Hamers highlights a scalable platform for companies that develop initially in Spain, Italy, France, Czech Republic and Austria, while in Germany it will strengthen the platform of banca digital.

THE CEO of ING Belgium, Rik Vandenberghe, indicated in a personal communication of the branch of the belgian that the reduction of jobs in the country will be made largely through the outputs of "natural" and, therefore, the redundancies will reach "a maximum of 1,700 people".

on the other hand, the union secretary responsible for the financial sector in Brussels (SETCa) stated that "such lack of consultation is unacceptable", adding that the union members "will bring together a common front to decide which actions they will carry out".

In the opinion of the national representative of the National Central of Workers (CNE), Geoffrey Hantsot, "all services of the bank will be affected by this restructuring."

the president of The Socialist Party (francophone Belgium, Elio Di Group, denounced in a statement that, after the cases of the Caterpillar and of Axa in the country, "a company that has profits, but not enough according to the shareholders, hires workers".

the Group it has expressed solidarity to the employees who will be made redundant, and underlined that in the last ten years the branch of ING in Belgium has provided 7,200 million euros in dividends to the mother house in the Netherlands.


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