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ABN AMRO announces layoffs

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ABN AMRO announces layoffs

ABN AMRO announces layoffs
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Dutch state-controlled bank ABNAMRO is to lay off between 4,000 and 5,000 people and reduce its costs by up to 1.3 billion euros as it fully integrates with Fortis Bank Nederland.

A spokesman said as many as 6,500 staff would be cut, but the group will also create 1,500 new jobs. The Dutch government plans to ultimately sell the unified bank.