The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66 - Activities auxiliary to financial services and insurance activities
850 jobs Number of planned job losses
Announcement Date
1 November 2007
Employment effect (start)
31 December 2007
Foreseen end date
31 December 2011
Description
ING, the multi-national financial services group, announced in November 2007, that it is to cut 850 jobs following the restructuring of its agencies network (consisting of 794 agencies). In line with ING’s restructuring plan, the agencies will be all equiped with an internet banking system in order to automate most of the banking services. ING assured that no direct dismissals are forecasted and that the job losses will be achieved through a policy of not replacing retiring staff.
Eurofound (2007), ING, Internal restructuring in Belgium, factsheet number 62610, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62610.
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