DAILY BRIEFING: Banking giant ING to axe 7,000 jobs in the Netherlands and Belgium
BANKING CUTS Dutch banking giant ING is to take the axe to 7,000 jobs in two countries as part of a major cost-cutting drive.
The job losses will take place in the Netherlands and Belgium and are part of plans to save £773million a year by 2021.
A total of 3,500 staff will lose their jobs in Belgium and another 2,300 in the Netherlands, with the rest of the cuts set to fall on suppliers.
ING said it made the decision in the face of 'continuous regulatory burden and a prolonged period of ultra-low interest rates'.
The firm also said that it will invest £697million in 'digital... read more
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