Dutch bank ABN Amro to shed almost 3,000 jobs in pull back from abroad

Its shares, which have lost almost half their value since the COVID-19 pandemic, fell almost 5% in early trading, after the bank delivered a cautious outlook for the years to 2024

Dutch bank ABN Amro said on Monday it would cut almost 3,000 jobs by 2024 as it retreats to the Netherlands and limits its international exposure to northwest Europe.

ABN, one of the three dominant lenders in the Netherlands, said it would cut 15% of its current staff of about 19,000 by 2024, as it seeks to bring down costs by 700 million euros ($838 million) to 4.7 billion euros per year.

Its shares, which have lost almost half their value since the COVID-19 pandemic, fell almost 5% in early trading, after the bank delivered a cautious outlook for the years to