Job losses if consortium wins bid

9th May 2007, Comments 0 comments

9 May 2007, AMSTERDAM – If ABN Amro is taken over by the banking consortium that is considering a hostile bid, it will have tragic consequences for employment at the company.

9 May 2007

AMSTERDAM – If ABN Amro is taken over by the banking consortium that is considering a hostile bid, it will have tragic consequences for employment at the company.

Trade union De Unie estimates that 11,000 jobs could be lost in the Netherlands.

Fortis is one of the three banks in the consortium. In the event of a takeover ABN Amro Nederland would go to Fortis. In order to avoid overlap, many ABN Amro offices will be closed.

De Unie also thinks that half of the 2,000 workers at the headquarters could be made redundant. Worldwide one third of the 107,000 jobs would disappear.

A takeover by Barclays would result in the loss of 23,000 jobs, few of them in the Netherlands.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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