Archive · 30 Jun 2025
ING Announces Job Cuts, Cites Too Many Senior Roles
ING, a big bank, is cutting 230 jobs because they have too many senior managers.
They're doing this because of uncertain markets and want to reorganize to grow.
The cuts will be spread out in different places.
ING's stock price went down a little bit.
They are also thinking about getting a US license.
This would help them with money, but they'd have to follow more rules from US regulators.
ING Groep NV will eliminate 230 roles in its wholesale banking division.
The cuts will focus on Directors and Managing Directors due to too many senior roles.
The restructuring is due to market circumstances and a goal of staff rebalancing for growth.
ING shares were down 1.2% at €18.60 apiece.
ING is exploring acquiring a US banking license.
- Who
- ING Groep NV.
- What
- ING is cutting 230 jobs in its wholesale banking division.
- When
- The announcement was made on Monday.
- Where
- The cuts will be split across its locations.
- Why
- Due to market circumstances and to rebalance its staff for growth.
Company Perspective
N/A
Restructuring Rationale
Company Perspective
ING aims for staff rebalancing to align with market conditions.
N/A
N/A
- Job Cuts
- 230 roles
- Affected Roles
- Directors and Managing Directors
- Reason
- Market circumstances and staff rebalancing
- Stock Price
- Down 1.2% at €18.60
- Company
- ING Groep NV