ING reaches agreement with trade unions in Belgium
30 March 2017
ING in Belgium and its trade union partners have reached an agreement on a Social Plan. Various collective agreements relating to the transformation plan (announced on 3 October 2016), have now been signed. We can now prepare to take the next step in the transformation planned from 2017 to 2021.
The agreements include a lower number of compulsory lay-offs and a plan for flexible working conditions. Next to that they also set out details of a fair redeployment plan to support employees whose jobs are impacted. The agreements do not materially deviate from the intended plans in terms of total jobs affected and financial impact as announced in October 2016.
ING aims to improve the customer experience by moving to an integrated banking platform in the Netherlands and Belgium. The combination will have one value proposition, one strategy, one set of systems, one culture and one organisation, but with two legal entities and two balance sheets.*
We are pleased that an agreement has been reached. ING will continue to support our employees during this process in line with the framework of the plan, just as our employees continue to support our customers with the dedication and expertise they are accustomed to.
*Subject to final approval of the regulator.