De Nederlandsche Bank (DNB), the central bank of the Netherlands, is set to cut 290 full-time jobs as part of a strategic reorganisation designed to curb costs. The majority of these reductions are anticipated to occur through the natural expiration of contracts, with the bank aiming to avoid involuntary layoffs. This restructuring predominantly targets the IT, Finance, HR, and communications sectors within the institution.
Under this plan, DNB intends to streamline its operations, bringing its workforce down to approximately 2,090 full-time employees by the year 2030. This initiative includes not only a reduction in external hires but also other cost-saving strategies that collectively aim to conserve over €70 million. Despite the challenges of rising wages and inflation, the bank is determined to maintain its budget in 2030 at the same level projected for 2025.
Since 2020, DNB’s budget has seen a substantial increase, reaching €576 million. This escalation is attributed to several factors, including expanded legal responsibilities and increased wage and inflation rates. Furthermore, there has been significant investment in emergency IT infrastructure upgrades, alongside the temporary relocation of staff during the ongoing renovation of the bank’s headquarters.
As the bank embarks on the final stages of implementing these reorganisation plans, it has communicated the expected impacts to its employees. This step follows a period of consultation with its works council, ensuring that staff are well-informed about the upcoming changes.