Triodos Bank allocates one in ten jobs – companies

Triodos Bank allocates one in ten jobs - companies

Dutch bank Triodos wants to downsize: by 2024, the bank will have to handle 130 to 150 employees, or about 10 percent fewer. This was stated in a press release issued on Tuesday. The bank is also active in our country, but it is not yet known whether and how many jobs will be lost here.

Triodos positions itself as an ethical bank and has been active in five countries (Belgium, the Netherlands, Germany, Spain and the United Kingdom) for the past 40 years. But to remain at the forefront of sustainable financing, we need to improve our cost/income ratio and our return on equity. “We will be able to achieve this by adapting our business and operating model and leveraging our scale in different countries.” Concretely, the bank aims to achieve a cost-to-income ratio of 75 to 70 percent and a return on equity of 4 to 6 percent in 2025.

By laying off staff, the bank wants to save 11 to 12 million euros on an annual basis. Triodos Bank had 1,715 employees, or the full-time equivalent, at the end of last year. The phase-out will take place through a combination of natural attrition, job shifts and layoffs, apparently on Tuesday. Triodos will release 6 million euros to finance the restructuring. Social counseling started after the summer and it is hoped that it will start with restructuring.

Triodos has 162 employees in our country. It is not yet known how many jobs will be eliminated here. “We are only at the beginning of the process,” spokeswoman Liv Schreurs said.

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Triodos positions itself as an ethical bank and has been active in five countries (Belgium, the Netherlands, Germany, Spain and the United Kingdom) for the past 40 years. But to remain at the forefront of sustainable financing, we need to improve our cost/income ratio and our return on equity. “We will be able to achieve this by adapting our business and operating model and leveraging our scale in different countries.” Concretely, the bank aims to achieve a cost-to-income ratio of 75 to 70 percent and a return on equity of 4 to 6 percent in 2025. By cutting staff, the bank wants to save 11 to 12 million euros on an annual basis. Triodos Bank had 1,715 employees, or the full-time equivalent, at the end of last year. The phase-out will take place through a combination of natural attrition, job shifts and layoffs, apparently on Tuesday. Triodos will release 6 million euros to finance the restructuring. Social counseling started after the summer and it is hoped that it will start with restructuring. Triodos has 162 employees in our country. It is not yet known how many jobs will be eliminated here. “We are only at the beginning of the process,” spokeswoman Liv Schreurs said.

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