The Dutch central bank, De Nederlandsche Bank (DNB), is set to cut 290 full-time positions as part of an effort to streamline operations and reduce costs. These reductions will primarily be achieved through the non-renewal of expiring contracts, with forced layoffs deemed largely avoidable. The reorganisation will mainly impact the departments of IT, Finance, HR, and communications.
DNB’s workforce is projected to shrink to approximately 2,090 full-time employees by the year 2030. By implementing these changes, along with a reduction in external hiring and other cost-saving strategies, the bank expects to save over €70 million. Despite the challenges of rising wages and prices, DNB aims to maintain its budget for 2030 at a level comparable to that of 2025.
Since 2020, DNB’s budget has surged significantly, reaching €576 million. This increase is attributed to several factors, including expanded legal responsibilities, escalating wages, inflationary pressures, emergency investment in IT infrastructure, and the temporary relocation of staff amid the ongoing renovation of its headquarters.
Staff at DNB have been briefed on the forthcoming changes as the bank proceeds with the implementation of its finalised reorganisation plans, following discussions with its works council. The reorganisation reflects DNB’s strategy to adapt its operational structure to future financial landscapes while managing its resources effectively.