ABN Amro to cut 2,400 jobs

ABN Amro has become the latest bank to shunt back office and IT jobs to India.

According to an article in today's Telegraph, the Dutch bank is preparing to slash 2,400 jobs worldwide in an effort to save €150m (104m) a year. At the same time, 900 jobs will be added in India.

The article says the UK is likely to be one of the countries most severely hit, with cuts focused on back office areas such as transaction processing, and IT.

The bank is reportedly restructuring its European IT activities. In a statement reported in the artlce, it says this "will primarily have consequences for the IT-related activities in the UK". However, it does not mention whether jobs would be lost.

Prudential, the insurer, is also closing offices in Belfast, Bristol and Holborn Bars in London, and transferring 700 jobs to India and other UK sites in an effort to save 40m a year.