The Netherlands - banking industry: ABN Amro to slash below board level management from 100 to 40

ABN Amro is planning to reduce the number of senior managers from around 100 to just 40 and is shaking up its executive board to make the bank ‘more client-focused, agile and efficient’.

Among those leaving is Chris Vogelzang, who had been tipped to take over when Gerrit Zalm stood down as chief executive. The managerial jobs to go will run across the level below the executive committee.

The 40 jobs remaining ‘will have a stronger involvement in the strategic direction and the leadership of the bank than before,’ the bank said in a statement. The composition of the ‘top 40’ will be reviewed every year.

‘Over the past few years, the number of bank staff has been reduced considerably but there has been no change in the number of senior managers,’ chief executive Kees van Dijkhuizen said. T

he bank will also have a slimmed down executive board made up of CEO Van Dijkhuizen, chief risk officer Wietze Reehoorn and a new financial boss who has yet to be appointed.

Read more: ABN Amro to slash below board level management from 100 to 40 - DutchNews.nl

Germany: Deutsche Bank could cut workforce by 25 percent

Deutsche Bank is considering shedding almost a quarter of its global workforce as it looks to honour pledges to cut costs and streamline its operations.

Some 8,000 jobs could be cut, while the bank has already announced plans to hive off its consumer division PostBank which employs another 15,000 people.

It’s thought that the cuts would mostly affect administrative and technology posts.

Preliminary details of the plan were presented to supervisory board members at the weekend by CEO John Cryan, who took control of Germany’s biggest bank in July promising to tackle what he described as Deutsche Bank’s “swollen” cost base.

Read more: Deutsche Bank could cut workforce by 25 percent | euronews, economy

Dutch Government Crises: "SMOKESCREEN IS KEEPING RUTTE GOVERNMENT ON LIFE SUPPORT "

The pieces might have been stuck together, but the "adhesive" attempts of the Center-Right Rutte II  Government are taking more and more desperate forms.

To limit further loss of face lhe Government coalition is trying to find a way to sneak past the Upper Chamber (Senate) blockage of their revised health-care legislation. 

Opposition parties which have been collaborating with the government on major issues have indicated they will not support changes in the legislation.

Read more: Rookgordijn houdt kabinet-Rutte II overeind - AD.nl

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