Following the day's earlier announcement that the ING Group would reduce its workforce by 7,000 people world-wide, the cuts will not have an effect in the Grand Duchy.
The Think Forward strategy launched in 2014 by the ING Group and implemented in the Grand Duchy in 2015 already led to changes in processes and the organisation of ING Luxembourg. The recently launched new My ING online banking platform, the opening of an innovative branch in Belval, and the principles of New Way of Working that will apply to the bank's new headquarters are all proof of that.
The strategy is identical across the ING Group but different entities of the Group face different situations: the conditions under which ING Luxembourg operates are very different than those of ING in Belgium or in the Netherlands, especially in terms of staffing and number of branches.
The statement issued by ING Luxembourg today stated that there will be no redundancy program for ING Luxembourg nor willingness to reduce the number of branches in the Grand Duchy.
