ABN Amro executive defends AI plans amid union concerns over job cuts

ABN Amro executive Marguerite Bérard believes that artificial intelligence is increasingly capable of performing tasks currently handled by staff. For that reason, the broad reorganization revealed on Tuesday will hit the bank’s support roles the hardest. Positions in customer service, operations, and the anti–money laundering unit are expected to decrease by roughly 35 percent.

While outlining the bank’s updated strategy, the French executive emphasized that ABN Amro remains committed to its gatekeeper role within the financial system. According to Bérard, AI will allow staff to carry out their tasks more efficiently. She added that the core of her approach is about making deliberate decisions, ones the bank can fully steer itself.

Overall, the bank plans to cut 5,200 full-time jobs, down from roughly 22,000 positions at the end of last year. Including external contractors, total employment then exceeded 25,000.

At the same time, ABN Amro is adding staff through its acquisitions of the German lender HAL and NIBC in The Hague. Altogether, the bank expects to have approximately 22,300 full-time positions by 2028.

Bérard acknowledged that the news will leave many employees feeling unsettled. “We will do everything we can to provide the necessary support to everyone affected. To this end, we have a solid social plan that offers financial assistance and guidance in finding a new job.”

ABN Amro expects that over half of the downsizing will occur through natural turnover, such as leaving vacancies unfilled. Owing in part to a freeze on new hires, the bank has already reduced its workforce by more than 1,000 positions this year. The bank also says it has no intention of reducing its Dutch branch network further, keeping the total at 26 locations.

The FNV union described the scope of the job cuts at ABN Amro as nothing short of shocking. FNV representative Arne Gorter added that it is difficult to understand why a bank reporting billions in annual profits would again choose to make workforce reductions of this magnitude.

ABN Amro plans to eliminate over 5,000 positions as part of its push to lower expenses and improve profitability. Gorter called the move extraordinary in scale, noting that it comes at a time when staff are already dealing with heavy workloads and record levels of sick leave. He said it is painful to see employees reduced to a line item in the budget, despite their role in building the bank, a development he described as both unfortunate and a harsh blow.

ABN Amro argues that AI and further digitalization will take over a significant portion of the workload in the coming years. Gorter countered that the bank is relying too heavily on technology, saying it is unrealistic to dismiss staff now and assume AI will seamlessly fill the gaps. In his view, automation typically requires major investment and often falls short of expectations in practice.

CNV negotiator Arthur Bot said ABN Amro has confronted its staff with an unwelcome shock. He called it a mass layoff, driven largely by the bank’s pursuit of higher profits.

Bot described the figures as substantial but noted that there is still little insight into which parts of the organization will be affected. “The impact is enormous. What’s strange is that, for now, there is no clarity at all about whether the layoffs will fall mainly in the Netherlands or abroad. That is very important information for all stakeholders, and first and foremost for the employees themselves.”

According to Bot, agreements are needed on a voluntary departure scheme. “If those who want to leave voluntarily receive an extra incentive, there will ultimately be fewer employees facing forced layoffs.” He added that ABN Amro employees are already under significant strain, and the planned layoffs will only increase that burden.

Harma Pethke, a board member of the De Unie union, described the plans as sending a “shockwave” through the bank. Pethke said, “A shockwave is sweeping through the bank today. While some staff cuts were anticipated, the scale of these layoffs is staggering. We are entering a period of significant upheaval.” She added that, fortunately, the bank remains financially strong and the social plan agreements are robust.

According to De Unie, the uncertainty facing bank employees will demand increased attention in the near future. Pethke noted, “Staff are already struggling with heavy workloads, and the level of sick leave at the bank adds to our concerns.” The union also points out that this move continues the ongoing trend of job cuts in the financial sector.