ING bank cuts 1,000 jobs due to coronavirus crisis

Source: Xinhua| 2020-11-05 22:28:51|Editor: huaxia

THE HAGUE, Nov. 5 (Xinhua) -- The novel coronavirus crisis has forced ING Group to cut 1,000 jobs worldwide, the Dutch multinational banking and financial services corporation announced on Thursday.

"The pandemic continues to have a significant impact everywhere, with the second wave in Europe and the United States putting further pressure on consumers and businesses," Steven van Rijswijk, CEO of ING Group, stated in a press release. "We will concentrate even more on core clients and simplify our geographical footprint, which will require fewer staff."

The savings include closing ING offices in South America and Asia, like in Brazil, Argentina, Colombia, Thailand, Malaysia, Mongolia and Kazakhstan. According to ING's planning, the jobs cut will be completed by year-end 2021.

ING also posted the financial results of the third quarter on Thursday. The net result in the third quarter of 2020 was 788 million euros (930 million U.S. dollars), down 41.4 percent compared to 1.344 billion euros in the same period in 2019. Enditem