The Dutch state-owned bank De Volksbank announced between 400 and 500 job cuts in the Netherlands.
De Volksbank is to reorganize its structure in order to make the company more efficient, more flexible and more customer-oriented.
The bank starts a retraining programme to help redundant employees to find a new job. Either in another company or in the newly created positions. This latter solution will have to be in line with the company's new strategy. However, forced dismissals may be necessary.
In 2013, De Volksbank was saved from bankruptcy by the Dutch state after the financial crisis and has been fully state-owned since then. De Volksbank operates the brands SNS, RegioBank, ASN Bank en BLG Wonen in the Netherlands.