B · Normal
[ING announces layoffs of approximately 400 people globally and expects to cut costs by 75 million euros per year] On October 29, ING announced plans to reorganize its wholesale banking business and expects to lay off approximately 400 people globally. Relevant adjustments will take effect on March 1, 2027. The company expects that the relevant measures will incur pre-tax layoff expenses of approximately 175 million euros and reduce costs by approximately 75 million euros annually, taking full effect from 2028. The bank's net profit in the third quarter was 1.85 billion euros, a year-on-year increase of 3.5%; pre-tax profit increased 5.7% to 2.705 billion euros.
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