Dutch Bank ABN to Make "Significant" Job Cuts

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00007307-dutch-bank-abn-to-make-significant-job-cu/

AMSTERDAM – Dutch bank ABN AMRO will make significant job cuts to help it achieve the 500 million euros ($615 million) in cost savings it aims for from 2007, but the exact number has not yet been decided.

“We have said it would affect a significant number of jobs. This is a major operation,” Jochem van der Laarschot, spokesman at ABN AMRO, the country’s biggest bank, said on Monday.

Chief Executive Rijkman Groenink announced in August that the bank, which employs about 105,000 people worldwide, would restructure information technology, human resources, procurement and real estate divisions to save money.

Citing unnamed ABN AMRO officials, news agency Dow Jones said on Monday that the bank would cut 7,000 jobs in the Netherlands, where around 30,000 people are employed.

For this complete story, please visit Dutch Bank ABN to Make “Significant” Job Cuts.

Dutch Bank ABN to Make "Significant" Job Cuts

Unknown Author

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