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
1,000 jobs Number of planned job losses
Announcement Date
13 February 2013
Employment effect (start)
28 February 2013
Foreseen end date
31 December 2015
Description
ING announced its intention to reduce its workforce by 1000 employees by 2015 and close 40 branches.
According to the management, the reduction will be implemented through natural attrition and the non-replacement of retiring employees. According to reports, approximately 1400 employees should leave ING in the next 3 years, while only 150 full-time recruitments per year will go ahead. It is estimated that by 2015 ING Belgium should employ 8560 people.
The management has stated the decision was a result of the increasing use of online products and systems and the automization of banking processes. In addition to the job cuts, 40 branches will be closed, 18 of them in Brussels and 20 in Wallonia. It is reported that 1350 redundancies will also take place in the Netherlands.
The unions argue that the decision is unjustified and disrespectful towards ING's staff and social partners, as it was taken without prior consultation.
Sources
13 February 2013: RTBF.be
Citation
Eurofound (2013), ING, Internal restructuring in Belgium, factsheet number 74929, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74929.
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