More on ING (ING) Q4: To axe 2,400 jobs -1,400 jobs in Holland and 1,000 in Belgium - as part of...

|About: ING Groep N.V. (ING)|By:, SA News Editor

More on ING (ING) Q4: To axe 2,400 jobs -1,400 jobs in Holland and 1,000 in Belgium - as part of program to reduce annual operating costs by €1B by 2015. The job losses add to cuts of 2,350 announced in November, and more could be on the way, with CFO Patrick Flynn saying the bank needs 7,500 fewer staff. Tier 1 capital ratio falls to 11.9% from 12.1% in Q3. (PR)