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ING cuts jobs after missing 4Q estimate
13-02-2013 08:33
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ING announced that it will be cutting 1,400 jobs in Holland and another 1,000 in Belgium after missing consensus for the fourth quarter of 2012.
The Dutch bank registered €1.43bn in profit, while analysts were looking for €1.63bn.
"As we embark on 2013, the economic climate remains challenging, and we must be agile to respond quickly to the dynamic environment so that we can deliver sustainable results for the long-term benefit of all stakeholders," said Chief Executive Jan Hommen in the statement.
ING currently trades donw 0.8% to €6.88.
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The Dutch bank registered €1.43bn in profit, while analysts were looking for €1.63bn.
"As we embark on 2013, the economic climate remains challenging, and we must be agile to respond quickly to the dynamic environment so that we can deliver sustainable results for the long-term benefit of all stakeholders," said Chief Executive Jan Hommen in the statement.
ING currently trades donw 0.8% to €6.88.
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