Dutch bank ING says to slash 1,700 jobs | ||
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The Hague (AFP) - Leading Dutch bank ING on Tuesday announced it will slash 1,700 local jobs over the next three years, as it upgraded its automated online banking services. "ING is to take the next step in digital banking in the Netherlands. The measure (is) to result in the reduction of 1,700 jobs in ING's Dutch workforce," it said in a statement. In addition a further 1,075 external contract jobs will also be scrapped. The cuts will mainly target its Amsterdam-based headquarters, its IT department and call centres, ING said. ING planned to standardise all its online banking systems including its mobile app, website, call centre and branches into a single service and upgrade its IT systems at a cost of 200 million euros ($248 million). The job cuts however will lead to a total gross cost saving of around 270 million euros from 2018 onwards, ING said. "In today's digital world, change is a constant factor," ING group chief executive Ralph Hamers said in the statement. "We are creating a consistent customer experience by integrating our service channels in the Netherlands and by making a substantial investment to simplify and upgrade our IT systems," he said. ING said it would "do our utmost" to help those affected by the cuts to find new jobs. The largest Dutch bank employs some 53,000 people worldwide and has undergone significant restructuring in recent years. Earlier this month ING announced it would ahead of time repay a multi-billion-euro loan received from the Dutch state during the 2008 financial crisis. Apart from paying back the 10 billion euro loan, ING also had to sell off its insurance businesses and other subsidiaries. Join the conversation about this story »  | ||
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Thai police royal defamation probe widens | ||
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Bangkok (AFP) - A major Thai police corruption probe was widened Tuesday with a third high-ranking officer charged under the country's strict royal defamation rules in what analysts said was a rare purge of the kingdom's top brass. The investigation comes six months after the military took over in a coup and centres around a group of police officers allegedly led by Pongpat Chayapun, the head of Thailand's elite Central Investigation Bureau. Pongpat and two other senior officers -- his deputy Kowit Vongrongrot and marine police chief Boonsueb Praithuen -- have all been charged under Thailand's lese majeste law as well as with a slew of bribery and corruption charges. Under the royal defamation legislation -- one of the world's strictest -- anyone convicted of insulting the king, queen, heir or regent faces up to 15 years in prison on each count. The three senior officers, who have been dismissed from their posts, are also accused of running illegal gambling and oil rackets, police said Tuesday. At a press conference in Bangkok the country's police chief displayed pictures of what he said were assets worth $61 million taken from the suspects' homes, including jewellery, ivory tusks, gold ingots, paintings and antique furniture. "The suspects had been making false claims to gain benefits through police promotions, illegal gambling and illegal oil trading," national police chief Somyot Poompanmoung said in reference to the lese majeste charges. Somyot did not elaborate on how the "false claims" related to the monarchy. Both Thai and international media must heavily self-censor when covering the country's lese majeste rules. Even repeating details of the charges could mean breaking the law under section 112 of Thailand's criminal code. "This case is very important and very sensitive so police may not make detailed disclosures about the ongoing investigations," Somyot said. - 12 now charged - Four more officers and five civilians have been charged in the probe, though they are not currently charged under the lese majeste law, he added. The total number of people now charged stands at 12. Somyot said he was confident further assets were hidden and that Pongpat had confessed to the charges against him. Analysts said the investigation of such senior officers was extremely rare and could be an attempt by the military to strengthen their hold over the police following the May coup. "The junta is trying to weaken Thailand's police while also turning the police into a loyal tool of the army," Paul Chambers, director of research at the Institute of Southeast Asian Affairs in Chiang Mai, told AFP. David Streckfuss, a Thailand-based analyst, said it was rare in recent years for lese majeste to be used to bring down high-ranking officials. He said the controversial law had been more readily deployed against pro-democracy activists and members of the "red shirt" movement loyal to fugitive former prime minister Thaksin Shinawatra. "To see this charge now against high-ranking policemen is indeed a surprise and perhaps reflects efforts by the military to dismantle the power structure of the police," he said. Rights groups say there has been a rise in both charges and convictions under Thailand's royal slur law since the army seized power. Under martial law -- declared two days before the coup by then-army chief Prayut Chan-O-Cha, who is now premier -- suspects are tried under military courts, where there is no right to appeal. Earlier cases were handled in civilian courts. The royal family is a highly sensitive topic in the politically turbulent kingdom where 86-year-old King Bhumibol Adulyadej, the world's longest reigning monarch, is revered by many as a demi-god. The law is designed to protect the monarchy from insult, but academics say it has been politicised in recent years as the king, who is currently in a Bangkok hospital, grows increasingly frail. The coup was the latest twist in Thailand's long-running political conflict, which broadly pits a Bangkok-based middle class and royalist elite, backed by parts of the military and judiciary, against rural and working-class voters loyal to Thaksin. Join the conversation about this story »  | ||
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