ING, the Netherlands’ largest financial services group, will cut 2,350 jobs, or 2.5 percent of its workforce, as it prepares to separate its banking and insurance operations in tough markets.
Commerzbank could cut 5,000-6,000 jobs as part of multi-billion euro cost-cutting plans.
UBS, which posted a loss of 2.17 billion francs in the third quarter of last year, has cut 9,000 jobs, mainly in investment banking.
Spanish Sept Industrial Production Falls -7.0% Y/Y
Sharply down from a revised -2.5 (-3.2%) in August, and the 13th consecutive month of falling production (lowest since April 2012).
