ING, the largest Dutch-based financial services company, is planning to announce a restructuring that will lead to thousands of job losses, Dutch newspaper Het Financieele Dagblad said on Friday.
The paper said, citing anonymous sources, that the company plans to change its country-based structure in favour of single technology and risk management platforms. A company spokesman declined to comment on the report, though he noted the company is planning to update investors, analysts and media on ING's strategic plans at its annual investor day on October 3.
ING's share price was down 3.9 per cent at Euro 10.43 by 0753 GMT on Friday, when the Stoxx 600 Europe banking sector index was down 3 per cent on worries about Deutsche Bank's financial stability.
The paper said, citing anonymous sources, that the company plans to change its country-based structure in favour of single technology and risk management platforms. A company spokesman declined to comment on the report, though he noted the company is planning to update investors, analysts and media on ING's strategic plans at its annual investor day on October 3.
ING's share price was down 3.9 per cent at Euro 10.43 by 0753 GMT on Friday, when the Stoxx 600 Europe banking sector index was down 3 per cent on worries about Deutsche Bank's financial stability.
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