ABN Amro To Axe 5,200 Employees As Part Of New CEO’s Growth Plan
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ABN Amro announced a new roadmap for profitable growth and new financial targets for 2028 earlier today, November 25. As part of the announcement, the Dutch bank said that it will reduce its workforce by 5,200 members, representing almost a quarter of its total team.
The layoffs will be happening over the next three years, and they come as an effort to increase profitability under the new CEO, Marguerite Berard, who took over from the former Chief Executive Robert Swaak in April of this year.
Berard has laid out plans to strip costs through a series of staff reductions and legacy system retirement.
ABN Amro To Axe 5,200 Positions
Moving forward, the plan is to terminate around 5,200 roles from the lender’s roster of 22,000 staff members. “This will enable ABN AMRO to operate more efficiently, capture new opportunities and deliver greater value for all stakeholders,” according to the announcement.
The new CEO commented as well, saying: “Today, we present a bold strategy for ABN AMRO’s next chapter. Anchored in our strong roots and Dutch heritage, our focus is on sustainable and profitable growth in Northwest Europe.”
Berard added that the bank’s new strategy builds on its core strengths. Regarding layoffs, the bank noted that half of the planned terminations are expected to take place through attrition, and that “In 2025 YTD, a reduction of over 1,000 FTEs has been achieved.”
Plans For The Future
Apart from reducing the number of workers, operations are also being simplified by reducing the number of legal entities, optimising, and digitalising end-to-end processes. Berard argues that technology is central, with legacy systems slowly being phased out, while AI is getting embedded more and more, and API use is expanding.
ABN Amro intends to strengthen its Dutch retail position with ongoing investment in challenger brands, such as BUUT and Tikkie. It believes that doing so will attract new customers and further increase its fee income. It also intends to acquire NIBC, which will further expand the bank’s position in core products, mortgages, and savings.
However, in addition to acquisitions, the bank also has plans to sell its personal loans business, Alfam, to Rabobank. Commenting on this, it said that it will continue to offer personal loans to clients, but moving forward, they will come through a third-party arrangement with Rabobank.
