The Dutch bank group ING Groep NV announced on Monday a program of layoffs focused on employees from management positions, stressing that their number is far too high.
Ing makes dismissions
The Dutch creditor has announced that he will make redundancies, intending to eliminate 230 positions in his division of wholesale banking services, according to a statement issued on Monday. The discounts “They will focus on general directors and directors in commercial, front office functions“Because the creditor has”Too many management positions, ”he said.
ING shares decreased by 2.1% in Amsterdam, writes Bloomberg
ING estimated an increase in costs of up to 12.7 billion euros ($ 14.9 billion) this year. The indicator increased by 5.5% in the first quarter compared to the similar period of the previous year, with great attribution to change the “impact of inflation on staff spending”.
European banks mentioned macroeconomic uncertainty and geopolitical tensions as increasing risks for their business as a result of the global commercial war.
ING said Monday that discounts were determined by a combination of “market circumstances“And the goal of”rebalancing“Of the staff. The discounts will be divided proportionally between its locations, the company said.
The company had 17,287 employees in the Division of Angro Banking Services at the end of the first quarter.
Competitor ABN AMRO BANK NV announced earlier this year a freezing of employment to fulfill its cost forecasts for the whole year and a reorganization of its corporate banking unit in June.
Slower pace
ING executive director Steven Van Rijswijk, told Bloomberg News earlier this month that he could slow down the redemption of action after increasing the amount of money he wants to keep in the bank as a safety reserve.
ING will continue to hire in the areas where it needs to develop “specialized skills“, The company shows. Also, the company wants to”increase the size of our reserve of junior talents ”.
The bank also explores the opportunity to obtain an American banking license, a movement that could strengthen its access to liquidity in dollars in exchange for increased supervision from the American regulatory authority, Bloomberg said. The bank consolidated the Treasury Department of its ING Americas division before this initiative.
