Signature Collective Labour Agreements

We hereby inform you that yesterday, Wednesday, 29 March 2017, management and the trade union partners have signed various collective agreements.

Thursday, March 30, 2017 —

We hereby inform you that yesterday, Wednesday, 29 March 2017, management and the trade union partners have signed various collective agreements relating to the transformation plan that will be rolled out from 2017 to 2021.

Through these agreements, management and the social partners have stressed their desire to achieve a well-balanced package of measures in response to the transformation plan, in order to:

1. Limit the number of compulsory lay-offs
2. Propose accompanying measures to employees
3. Provide employees with flexible working conditions
4. Offer attractive pay conditions to employees

Ivo Pareyns, Human Resources Director: "The transformation plan presented on 3 October is designed to prepare ING to face the changes in the market. Our ambitious transformation plan calls for an equally ambitious social plan and other accompanying measures. Despite their concerns about the transformation plan, the social partners have worked intensively with management to reach these well-balanced agreements. These agreements will make it possible, in the event of the implementation of the plan, to support all staff, while preserving ING’s integrity as a respectful and attractive employer. These measures are crucial to safeguard our future and I would like to thank the social partners for having shouldered their responsibility. "

You will find the details of these agreements here:

The next steps are the confirmation by the Board of Directors (this Thursday), the official notification of these decisions to the competent authorities (this Friday) and regulatory approval.

For more information:

Pressoffice ING Belgium:
Vanessa Zwaelens: T: + 32 2 547 24 84, M: 0474 74 14 29, vanessa.zwaelens@ing.be

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