ING to cut 1,250 jobs worldwide, 950 in the Netherlands, amid digitalization push

ING plans to reduce its global workforce by approximately 1,250 operational roles this year, the bank announced in a presentation on digitalization and AI implementation. The cuts will mainly affect teams involved in customer research and similar functions, where ING sees potential to operate with fewer staff.

Last year, ING already signaled plans to reduce its workforce. In a forecast submitted to the Dutch Employee Insurance Agency (UWV), the bank indicated it could cut up to 950 jobs in the Netherlands.

Part of this reduction overlaps with Thursday’s announcement regarding operational roles, though the exact number of Dutch positions affected remains unclear. Globally, ING employs over 60,000 people.

ING aims to leverage technology to manage higher workloads without proportionally increasing staff or costs. At a Morgan Stanley conference, the bank pointed to numerous automated customer interactions that require no employee involvement. It is also developing an AI agent to assist with mortgage applications.

ING expects that continued digitalization and AI adoption will deliver roughly 350 million euros in cost savings.

ING’s customer research department, responsible for fighting money laundering, now employs roughly 6,000 people. In past years, banks’ anti-money laundering units have expanded sharply after facing substantial fines for insufficient oversight.