Dutch Bank ING Groep NV to cut 2350 jobs
Posted: November 8th, 2012 | Author: dubaidude | Filed under: By Location, The Netherlands | Tags: Banking, ING Groep NV | No Comments »
ING Groep NV, the Dutch bank and insurance company, revealed plans to cut 2,350 jobs after a sharp drop in third-quarter profits.
ING, one of Europe’s larger financial conglomerates by assets, said its net profit fell to (EURO)609 million ($783 million) from (EURO)1.69 billion a year ago. It attributed the decline primarily to “de-risking”—that is, selling assets at a book loss to eliminate the potential for bigger losses later.
Dutch IT services firm Ordina NV plans to slash 350 jobs, it said on Thursday, accelerating a cost-cutting drive as it sought a buyer for its loss-making business process outsourcing (BPO) activities.
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