Despite claiming they were restructuring because of digitalisation, it now appears that the ING banking group is also intending to move part of its activities to countries with lower wages. These are mainly in Asia and Eastern Europe, reports the De Volkskrant newspaper. They claim to have seen documents regarding this.
De Volkskrant has obtained documents sent to Belgian Unions under the Renault law. It would seem that administrative functions will be temporarily moved to Asia. Part of the risk management activities will be moved to Poland.
ING’s restructuring will mean the loss of 7,000 jobs, half of them in Belgium. “We clearly explained at the start of October that this reorganisation is necessary, as work and work places change. It was always part of the plan”, a spokesman for the bank said on Saturday.