ING may cut 950 jobs in Netherlands as AI replaces some roles

ING may eliminate as many as 950 jobs in the Netherlands by the end of next year, in part because some positions could be replaced by artificial intelligence, the bank reported in a forecast filed with the Dutch unemployment agency UWV, a legally required step. ING employs nearly 15,000 people in the Netherlands.

According to AD, bank spokesperson stressed that the filing is not an official reorganization announcement. “We do not yet know how many or which jobs will be affected,” the spokesperson said, following reporting by Bloomberg.

Labor unions have already been briefed on ING’s plans. De Unie said it is “waiting to see how the plans unfold.” The union recalled that a previous UWV forecast predicted a reduction of 850 jobs but ultimately resulted in only 250 positions being cut.

FNV also added: “In a previous reorganization, the real impact was smaller than expected. Many colleagues found other internal or external work. We hope that will be possible again.”

Earlier this year, the bank announced a smaller global reorganization affecting 230 positions in its large corporate client division. The cuts focused on areas with relatively too many senior roles, such as directors and managing directors, and too few junior positions, including analysts.