World Economy

ING to Cut 1,700 Jobs

ING to Cut 1,700 JobsING to Cut 1,700 Jobs

ING Group NV, the Dutch bank, says it will cut 1,700 jobs, or 2.7% of its workforce, to cut costs. An additional thousand jobs will be lost at external suppliers, the bank said in a statement Tuesday, ABC news reported. ING said the cuts are part of a move to expand its digital banking operations and jobs will be lost “at the headquarters of ING Retail Banking and in the back offices, call centers and IT departments.” The company will book a 320m euro ($400m) charge to cover costs, and expects to save 270m euros annually from 2017.