topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2117.66 -0.08
DAX 6323.19 -0.26
IBEX 30 6401.2 -2.17
CAC 40 3042.97 -0.16
FTSE 100 5356.34 0.09
AEX 292.76 0.00
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13057.26 -0.74
TSX Composite 11566.15 -0.09
ASX 4140.3 0.49
Hang seng 18810.25 0.05
Straits Times 2787.26 0.00
ISEQ 20 501.76 0.16
You are here: Home News Dutch News ABN Amro to cut 5,000 jobs

Dutch News

archive
Enlarge font Decrease font Text size


20/05/2009ABN Amro to cut 5,000 jobs

However, the figures have been disputed by the trade unions who said 7,000 will lose their jobs.

The Netherlands – Dutch bank ABN Amro announced it will be cutting between 4,000 and 5,000 jobs as a result of its integration with the Dutch branch of Fortis Bank following the nationalisation of both.

The total number of job losses due to the merger will amount to between 5,500 and 6,500. Previously, the bank estimated around 7,800 jobs would disappear.

However the bank's new CEO, former finance minister Gerrit Zalm, said he expected fewer people will lose their positions since 1,500 new posts will be created.

The trade unions, however, dispute these figure. They said ABN Amro failed to take into account a number of factors, which means around 7,000 people will lose their jobs.

The unions are also angry that the banks ignored a previous agreement which stated there would be no compulsory redundancies. The bank expects its reorganisation will produce savings of between EUR 1 and 1.3 billion.

Radio Netherlands / Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Americans in the Netherlands

reporting birth abroad

Relocating to the Netherlands

Taxation on Rental Apartments!

Housing in the Netherlands

Taxation on Rental Appartments?

Discuss Dutch Culture

High-quality fake passports, driver's licenses, ID

English in the Netherlands

Moved to Hengelo

participate in the forums

Inside Expatica
Setting up home in the Netherlands

Setting up home in the Netherlands

A guide to telephone, internet and television along with utility services water, electricity and gas in the Netherlands.

Dutch immigration and residency regulations

Dutch immigration and residency regulations

Lost in the Dutch immigration system? Look no further than this guide compiled for our Survival Guide 2012.

A brief introduction to the Netherlands

A brief introduction to the Netherlands

Expatica offers a whistle-stop tour of life in the modern Netherlands.

Giving birth in the Netherlands

Giving birth in the Netherlands

The challenges and benefits of the maternity system in the Netherlands and how it differs to other countries.