nuOct 29, 2026, 07:10

ING to cut 400 jobs worldwide in wholesale banking division

ING is eliminating 400 positions worldwide within its wholesale banking division while offering assistance to affected staff. The bank reported a 3.5 percent increase in net profit for the third quarter, largely driven by higher interest income from loans.

ING Group has announced plans to cut 400 jobs globally within its wholesale banking division. The financial institution confirmed that it will provide support to affected employees to help them transition into new roles either inside or outside the company.

This workforce reduction follows a successful third quarter for the bank, which reported a net profit of 1.85 billion euros, representing a 3.5 percent increase compared to the same period last year. The firm's performance has been bolstered by rising interest rates, which have allowed the bank to collect more income from loans. Although ING saw its interest income climb by 15 percent, the bank has notably maintained its base savings rate in the Netherlands at the same level since April of the previous year.

Economy Business Netherlands

Read original ↗

Based on reporting by nu. Translated and condensed by LocalHeadlines.

Magnum reports record sales due to tropical summer, pistachio ice cream proves a golden move

Magnum reported a 12.1 percent global revenue increase to 2.5 billion euros, fueled by an exceptionally long summer and the successful launch of its pistachio-flavored ice cream. The company has consequently raised its 2026 growth forecast to 5.5 percent, supported by strong performance in Europe and the United States.

Gas price surges past 2 euro mark: household contracts now over 1000 euros more expensive

Gas prices in the Netherlands have climbed above two euros per cubic meter, resulting in annual energy cost increases of over 1,000 euros for many families. With no government price ceiling in place and further tax hikes expected, consumers are facing significant financial pressure as colder winter weather begins.

Shell doubles quarterly profit to 9.7 billion euros on high oil prices

Shell has doubled its quarterly profit to 9.7 billion euros due to soaring oil and gas prices caused by the ongoing war in the Middle East. The energy giant's financial performance shows a major increase from the 5.4 billion dollars reported during the same period last year.

Long-term absenteeism in the workplace rises again in September

Long-term workplace absenteeism rose to 4.9 percent in September, accompanied by a 49 percent increase in new illness reports compared to August. Experts attribute the ongoing pressure on organizational continuity to both the frequency of short-term illnesses and the prolonged duration of long-term medical absences.

Number of social housing units in Amsterdam region grew by over 4,000 last year – but waiting times remain long

The social housing stock in the Amsterdam Metropolitan Area increased by over 4,000 units in 2025 due to a rise in new construction projects. Despite this growth, waiting lists for rental properties remain long and are not expected to decrease significantly in the near future.