ING Launches Buyback, Plans 400 Job Cuts and Wholesale Banking Restructuring
ING launched a stock buyback and plans to restructure its wholesale banking unit and make 400 redundancies. The buyback was larger than analysts expected.
By Michael HennesseyING Groep launched a stock buyback of 1.65 billion euros, equivalent to $1.84 billion, as it set out plans to restructure its wholesale banking unit and make 400 redundancies.The Dutch bank's buyback program was larger than the 1.25 billion-euro plan analysts expected. ING said…