ING signs Memorandum of Understanding with a group of suppliers for the outsourcing of workplace services
Amsterdam, 4 July 2006, Today ING announced that it has signed a Memorandum of Understanding (MOU) with a group of suppliers consisting of Accenture, Atos Origin, Getronics and KPN. The MOU covers the outsourcing of workplace services of ING’s banking and insurance operations in the Netherlands and Belgium. Workplace services include the installation, maintenance and support of the desktops, laptops, printers and telephones.
The final contract with the suppliers is expected to be signed at the end of 2006. The contract which will run for a five year period is expected to have total value of approximately EUR 800 million. ING expects that approximately 490 FTE’s in the Netherlands and 60 FTE’s in Belgium will be transferred to the suppliers.
The transaction is part of the efficiency initiatives announced at ING Group in 2005, which are expected to produce annual cost savings of approximately EUR 460 million, including EUR 230 million for the streamlining and outsourcing at the Operations & IT organisation. The programme is intended to improve the efficiency and lift ING’s retail banking operations to a higher level of operational excellence. In total about 2,200 FTE’s will be transferred to outsourcing partners.
The labour conditions in the MOU for employees are in line with the Social Framework Sourcing that was agreed with the Dutch labour unions as well as with the collective labour agreement that was reached with the Belgian labour unions. The transaction is pending advice from the Works Councils and the outcome of the negotiations on the detailed employment conditions with the unions.
ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 115,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
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