ING to Cut 400 Jobs in Wholesale Banking Restructuring

05:01 AM EDT, 10/29/2026 (MT Newswires) -- ING Groep (INGA.AS) plans to cut around 400 jobs globally as it restructures and renames its wholesale banking unit starting March 1, 2027. The unit will be renamed Corporate and Institutional Banking and have a more streamlined structure, according to a Thursday release. The Dutch lender expects to record a pretax redundancy provision of 175 million euros in the fourth quarter. It expects the measures to reduce costs by 75 million euros a year, fully effective from 2028.