Ing to cut 230 posts because it has 'too many' managing directors | Company Business News

(Bloomberg) – Ing group NV has announced a round cut that focuses on senior staff and said that there are just too many of them. The Dutch lender plans to eliminate 230 roles in his wholesale banking department, according to a statement Monday. The cuts “will be focused on directors and managing directors in commercial, front -office rolls”, as the lender has “too many senior roles,” it reads. Ing’s shares were 1.2% lower at € 18.60 each at 10:17 a.m. in Amsterdam. Earlier this month, CEO Steven van Rijswijk told Bloomberg News that he could delay the pace of repurchase of shares after increasing the amount of money he wanted to keep in the bank as security pillow. European banks have cited macro -economic uncertainty and geopolitical tensions as increasing risks to their businesses as a result of the global trade war. In on Monday, the restructuring explained through a combination of “market conditions” and the purpose of “rebalancing” its staff for growth. The cuts will be proportionally divided into its places, it says. Earlier this year, rival ABN Amro Bank NV announced a freeze to help help its full year cost to meet a reorganization of its corporate banking unit. Ing will continue to rent in areas where it must grow ‘specialist skills’, the statement says. The company also wants to “increase the size of our pool of junior talent.” Bloomberg reported in May the possibility of obtaining a US bank license, a move that could strengthen access to dollar liquidity in exchange for greater supervision by the US regulator. The bank strengthened the Treasury division of its Ing Americas division before the pressure. (Updates with shares and details from third paragraph) More stories like these are available on Bloomberg.com © 2025 Bloomberg LP