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Dutch bank ING to cut 1,000 jobs

Dutch bank ING to cut 1,000 jobs

Dutch bank ING has planned to cut 1,000 jobs by the end of 2021 and close offices in South America and Asia due to the COVID pandemic.

 

The bank said in a statement that the job losses come despite “resilient” third-quarter results, with profits down 41.4 per cent to 788 million euros on turnover of 4.28 billion euros, down 7.3 per cent.

 

ING chief executive Steven van Rijswijk said, “The pandemic continues to have a significant impact everywhere, with the second wave in Europe and the US putting further pressure on consumers and businesses.”

 

The bank further stated that the “challenging external environment” meant ING was “refocusing” its wholesale and retail activities, with a “headcount reduction” of around 1,000 full-time jobs.

 

ING currently has a headcount of nearly 53,000 employees in more than 40 countries.

 

 

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