Dutch lender Rabobank plans to cut 1.230 jobs seeking cost-savings of 219 million euros by 2013.

The triple A credit rating bank, which employs approximately 59.000 people worldwide, wants to improve efficiency at its Utrecht headquarters by (mainly) reducing the number of IT positions.

"The business activities are mainly done by the local branches. This addresses purely the head office which supports the local branches," according to Rabobank’s spokeswoman Manel Vrijenhoek.

Note that the new plan will be discussed in September.

Source: Reuters