The number of people employed in the financial sector of the Netherlands has decreased by 18.5 per cent since the start of the financial crisis five years ago, local media reported on Monday.
The Dutch newspaper said not only banks have severely cut workforces, but also law and accountancy firms have cut their workforce considerably. According to the report, since 2009 Dutch bank ABN Amro has cut 6,751 jobs, or 26 per cent of its workforce, and recently announced a further 400 job cuts. ING has reduced its workforce by 16 per cent.
Experts say the job losses are not yet at an end. "We have lost 20 to 30 per cent but I expect this will increase until half of the total jobs," Carla Kiburg, of the trade union FNV Finance was quoted as saying.
Managing director of a headhunters company Chris de Groot told the paper a lot of work has either dried up or been moved to London.
However, the Dutch media studied the annual reports of 12 major employers in Amsterdam's so called Zuidas business district, finding out that while financial sector jobs are decreasing, the overall number of jobs in the Netherlands has risen from 7.6 million to 7.85 million during this period.