ING Real Estate is cutting 30 jobs at offices in the Netherlands, as part of the larger re-organisation within the ING Group in which 1,000 staff are being made redundant. It has yet to be decided which positions or units will be affected at ING Real Estate, one of the largest real estate company in the world. More details should emerge in coming weeks as the management consults with the employee works councils for the ING Group and ING Real Estate.
ING Real Estate is cutting 30 jobs at offices in the Netherlands, as part of the larger re-organisation within the ING Group in which 1,000 staff are being made redundant. It has yet to be decided which positions or units will be affected at ING Real Estate, one of the largest real estate company in the world. More details should emerge in coming weeks as the management consults with the employee works councils for the ING Group and ING Real Estate.
A spokesperson for ING Real Estate told PropertyEU that the company has stopped hiring and will be very selective about extending temporary contracts. ING Real Estate began reducing its staffing costs in its offices outside the Netherlands last year.
ING Real Estate is an integrated group engaged in development, financing and investment management in property sectors across Europe, North and South America, Australia and Asia. The company has a total portfolio of EUR 115 bn and total of 2,700 people in 22 countries. About 1,000 are based in the Netherlands.
ING Group this week announced that a further 1,700 positions in the Netherlands will go, on top of the 1,000 being cut, due to natural wastage. The job losses are part of cost-cutting measures ING Group announced last month, which will result in the reduction of the group workforce by 7,000. News of the latest cutbacks coincided with ING Group´s report of a EUR 3.9 bn loss for the last quarter of 2008.
