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ING Groep Sees Around 400 Redundancies As Part Of WB Reorganisation

By Reuters News

Oct 29 (Reuters) - ING Groep N.V. INGA.AS:

  • TO SIMPLIFY WHOLESALE BANKING ORGANISATION, EXPECTS AROUND 400 REDUNDANCIES GLOBALLY

  • NUMBER OF ROLE TO CHANGE EFFECTIVE MARCH 1, 2027

  • PRE-TAX REDUNDANCY PROVISION OF AROUND €175 MILLION IS EXPECTED TO BE BOOKED IN Q4

  • MEASURES EXPECTED TO RESULT IN A COST REDUCTION OF AROUND €75 MILLION PER ANNUM, FULLY EFFECTIVE FROM 2028 ONWARDS

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Further company coverage: INGA.AS

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