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. Last Updated: 07/27/2016

ABN to Cut Jobs

AMSTERDAM, Netherlands -- ABN Amro, the largest Dutch bank, said Tuesday it will cut 2,500 jobs in the Netherlands over the next five years and reorganize the branch network in its home market.

The bank said the changes come as part of its new long-term plan for the Netherlands, known as "Focus 2005," which is meant to bring about more effective customer service. ABN Amro also said it will introduce different types of branches, such as retail centers where customers can get advice but which will have unmanned cash counters; full-service branches; and cash points where multifunctional ATMs will let customers deposit cash.

The changes, which were also brought about by the formation of a new European division, will help ABN to deal with the competitive prices in the European market, said Rijkman Groenink, the head of the division.