ABN Amro cuts 550 HR jobs

A number of HR staff at investment bank ABN Amro are to lose their jobs as part of a cull of 2,850 employees at the group.

About 1,100 jobs will go in investment banking, 1,200 will be lost in IT and 550 will go in HR, the company announced today.

ABN Amro, which has more than 100,000 staff, is the third large European bank to announce cutbacks in the past month following Deutsche Bank and Credit Suisse Group.

About 380 investment banking jobs will be lost in ABN Amro’s Dutch domestic market and 300 similar jobs will go in the UK, the majority in London.

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