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Rabobank to cut staff

Dutch bank group Rabobank Group will eliminate more jobs in the Netherlands as it seeks to downsize its domestic operations and further reduce costs. The bank said it will cut between 1,000 and 2,000 jobs in the next several years, largely at its headquarters in Utrecht. The overhaul will also affect the Dutch activities of Rabobank’s international arm, which will be integrated into the headquarters. The move will help to reduce annual costs EUR220 million by 2016, the bank said. It follows a previously unveiled restructuring in the Netherlands that will result in 8,000 job losses and the closure of hundreds of branches. The Dutch bank employs about 60,000 world-wide. Like other lenders, Rabobank is seeking to slash costs as it faces a stricter regulatory environment and as customers are increasingly shifting to online banking.

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