Rabobank to shed 9,000 jobs by 2020

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Dutch bank Rabobank will be shedding another 9 thousand jobs between 2016 and 2020, CEO Wiebe Draijer announced on Wednesday. 

The bank is changing its structure significantly, Draijer said to the Telegraaf. The 106 individual banks and the head office will be merging into one bank on January 1st. Currently each bank has its own banking permit, management and annual statements.

Rabobank will be focusing on new forms of contact with its clients. "Consider mobile advisory offices as a moving bus with fixed stops, where you can go with questions for basic service.", Draijer said to the newspaper. "We will also open advice desks in existing stores and temporary stores, pop-up stores. But we are going to give more advice at home."

The 9 thousand disappearing jobs will mostly come from support services and administrative processes, the CEO said. "Many administrative steps have to go and handwork has to be automated. This leads to less people. The support services must be as efficient as possible."

Draijer stated that for the time being there will not be a wave of layoffs. "At the same time the financial sector is continuously subject to renewal, and we are in an open economy that is constantly moving. And therefore there are no guarantees."