ING cuts jobs as exhausted boss quits

Dutch bank ING is cutting headcount and renegotiating IT contracts in a desperate effort to cut costs. ING is looking to slash 7,000 full-time jobs in order to save €1.1bn a year by 2010. Just over a third of this will come from paying less salaries, with the rest coming from lower costs for its head office, cutting the cost …

[Anonymous Coward]

And the cycle continues

More terrified managers thrashing about with a chainsaw.

More people out of work without much hope of re-employment for years.

More people unable to spend money, lucky if they can even make rent now.

More people reading these stories and fearing for their job.

More people too scared to spend money in case they get the boot soon.

More businesses notice sharp drop in profits.

More terrified managers thrashing about with a chainsaw.

And so it goes on. Lets see just how far this house of cards can collapse.

[Schoofs]

How predictable...

I'm sure the 1.35 million Euro he gets for leaving ING will help him to recover his good health! And BTW: it is reported he will remain at ING as an advisor till the first of August. No so exhausted after all then?

I never got payed 1 euro(cent) for leaving a company voluntarily. What am I doing wrong?

[Matt W]

@AC 10:59GMT

True.

As there's no point in saving any money with rates so low, I'm blowing it while I can. That big screen represents my civic duty to Argos employees !

[jason]

Saving with banks is starting to get pointless.

A year ago I was getting over £100 a month interest with my Ing Direct account. I'm now getting £20 and falling.

And they keep sending me notes every month to say how pleased they are to be passing on the interest rate reduction. Oh I'm overjoyed!