The Dutch central bank, De Nederlandsche Bank (DNB), is set to cut 290 full-time positions in a strategic reorganisation aimed at curbing expenses. The majority of these reductions are anticipated to come through the natural expiration of contracts, suggesting that forced layoffs may largely be avoided. The restructuring efforts will primarily impact several departments, including IT, Finance, HR, and communications, as DNB targets a streamlined workforce of approximately 2,090 full-time employees by the year 2030.
This move is part of a broader initiative by the bank to implement cost-saving measures, with plans to reduce external hiring and adopt other fiscal strategies. These efforts are projected to yield savings exceeding €70 million. Despite the financial pressures of rising wages and costs, DNB aims to maintain its budgetary levels in 2030 comparable to those planned for 2025.
Since 2020, DNB’s budget has seen a notable increase, reaching €576 million. This rise has been attributed to several factors, including the assumption of additional legal responsibilities, escalating wages due to inflation, and necessary investments in IT infrastructure. Additionally, the temporary relocation of staff during the renovation of its headquarters has contributed to the budgetary growth.
Employees of DNB have been briefed on the potential repercussions of the reorganisation. As the bank proceeds with finalising and implementing these plans, it has engaged in consultations with its works council to ensure a smooth transition. The restructuring underscores DNB’s commitment to maintaining fiscal discipline while navigating the challenges posed by an evolving economic landscape.