ABN Amro is set to cut 2,350 positions, the majority of them in IT and back office operations.
The nationalised Dutch bank is gearing up for a switch back into private hands and is pursuing an aggressive programme to improve processes and systems.
Around 1,500 ABN employees are likely to be made redundant and a further 850 roles look set to go through natural attrition.
The bank is the latest in a string of financial institutions to cut thousands of operational roles. Nevertheless it posted underlying net profit of €974 million in the first half, compared with €325 million in the same period last year.
As part of an ongoing scheme called the “customer excellence programme”, ABN Amro is targeting better systems and processes intended to simplify its product offering, add more tools for communication with customers, and to release ‘mobile banking’ applications for smartphones and tablets.
“Many processes are already being redesigned to make them more efficient and relevant to serving our clients,” the bank said as it released its results.
“Local branches are given additional authorisation power to be able to more efficiently serve our clients and internal bureaucracy will be reduced. Also, departments have reviewed possibilities to improve efficiency while simultaneously raising productivity.”
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