The Dutch central bank, De Nederlandsche Bank (DNB), is set to cut 290 full-time positions in a bid to streamline operations and lower expenses. This reduction, which is part of a larger reorganisation strategy, will predominantly affect departments such as IT, Finance, HR, and communications. The bank anticipates that most of these reductions will be achieved through the natural expiration of contracts, minimizing the need for forced layoffs.
As part of its long-term plan, DNB aims to trim its workforce to approximately 2,090 full-time employees by the year 2030. This initiative is expected to result in savings exceeding €70 million, primarily by limiting external hires and implementing other cost-cutting measures. Despite facing challenges from rising wages and prices, the bank intends to maintain its 2030 budget at levels similar to those projected for 2025.
The central bank’s budget has seen a significant increase since 2020, soaring to €576 million. This surge is attributed to several factors, including an expansion in legal responsibilities, increased wages due to inflation, necessary upgrades to IT infrastructure, and costs associated with temporarily relocating staff while its headquarters undergo renovations.
In light of these changes, DNB has communicated with its employees about the forthcoming impact of the reorganisation. The bank is now moving forward with the final implementation of its plans, following consultations with its works council to ensure a smooth transition.