“Bank employee numbers are falling by the thousand, as modern IT automates previously manual processes.
This week Dutch bank ING announced almost 3,000 job cuts in its IT department, back office and callcentres.
The bank said it is moving to simplified IT systems and automation, at a cost of €200m for two years from 2015. It expects to save €270m per year from 2018. It is cutting 1,700 full-time employees and reducing the number of contractors it employs by 1,075.
The bank said the cuts came as the bank was modernising to meet customer demand. It said customers are banking “the way they want, when they want and in a consistent, reliable, clear and easy way".
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