18 December 2017
visit http://response.ncr.com

ABN Amro cuts 500 risk and tech jobs

30 October 2006  |  8424 views  |  0 ABN Amro logo

Dutch banking group ABN Amro is cutting 500 risk and IT jobs at its head office as it moves to accelerate restructuring and cost cutting measures following a drop in Q3 net profits.

In a statement ABN Amro says the job cuts will be achieved through a mix of redundancies, outsourcing and offshoring.

The bank is reporting a 5.6% fall in net profit, prompting it to speed up restructuring and cost cutting plans.

ABN Amro said earlier this year that it was cutting 1500 back office jobs worldwide and transferring 900 roles to low-cost locations, mainly India, under the cost cutting measures.

The latest cuts, which will affect staff at Amsterdam headquarters, are part of an efficiency initiative intended to save EUR300 million across the bank's operations in Europe and North America in 2007.

In a statement, ABN Amro says improvements in performance "will be achieved through a combination of the planned growth and efficiency measures in our regional client businesses and the acceleration of our existing action plans".
KeywordsPEOPLE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

ABN Amro live with Caplin data distribution technology

ABN Amro live with Caplin data distribution technology

19 September 2006  |  8019 views  |  0 comments
ABN Amro cuts 1500 back office jobs; offshores 900

ABN Amro cuts 1500 back office jobs; offshores 900

26 April 2006  |  9161 views  |  0 comments
ABN Amro to cut thousands of IT jobs

ABN Amro to cut thousands of IT jobs

24 June 2005  |  8491 views  |  0 comments
ABN Amro to cut 1200 IT jobs

ABN Amro to cut 1200 IT jobs

16 December 2004  |  6635 views  |  0 comments

Related company news

 

Related company information

ABN Amro

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.response.ncr.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11168 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9864 views comments | 20 tweets | 21 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7712 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7321 views comments | 6 tweets | 26 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7281 views comments | 5 tweets | 11 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job