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Dutch bank ING said today that it will slash nearly 2,000 jobs over the next three years.
"ING is to take the next step in digital banking in the Netherlands. The measure is to result in the reduction of 1,700 jobs in its Dutch workforce," it said.
A further 1,075 external contract jobs will also be scrapped.
Although it claimed the cuts were due to IT progress, the job losses will mainly target its Amsterdam headquarters, IT department and call centres.
ING plans to standardise all its online banking systems into a single service and upgrade its IT systems at a cost of €200 million (£160m).
The company will book a €320m (£250m) charge to cover costs but estimates the job cuts will lead to a gross cost saving of around €270m (£210m).
ING claimed it would "do its utmost" to help victims of the cuts find new jobs.
