January 26, 2009

ING Group to layoff 7,000 employees

Filed under: finance,worldwide — 7macaw @ 12:22 pm
Tags: ,

With a second successive quarterly loss on the cards for ING Group NV, the company plans to layoff 7,000 employees, and appoint Jan Hommen – the present chairman of the ING board, and the former chief financial officer of Philips Electronics – as its new CEO in the place of the current chief executive Michel Tilmant.

ING – the biggest Dutch financial-services company – is likely to post a net loss of about 1 billion euros for the full 2008 year; the loss resulting partly from ending its Argentina pension operations, and from the cost incurred by disposing off an insurance business in Taiwan.

Source: Top News

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