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 Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
2,350 jobs Number of planned job losses
Announcement Date
7 November 2012
Employment effect (start)
Foreseen end date
31 December 2014
Description
Dutch based ING announced it will cut 2,350 jobs, both in the insurance division (Nationale Nederlanden, 1,350 jobs) and in the banking division (1,000 jobs). The majority of the job losses will take place in the Netherlands (1400).
Background is a sharp decline in the sale of life insurance products, especially in the Benelux countries.
Sources
8 November 2012: De Volkskrant
8 November 2012: Het Financieele Dagblad
7 November 2012: ING
Citation
Eurofound (2012), ING, Internal restructuring in World, factsheet number 74449, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74449.
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