Business Services Industry
ABN deal to have low impact on local jobs.
Australasian Business Intelligence, June, 2007
Byline: Vanessa Burrow
Jun 03, 2007 (The Age - ABIX via COMTEX) -- The takeover of Dutch bank, ABN Amro, is not expected to result in major job losses in Australia. ABN Amro employs an estimated 110,000 staff worldwide, some 750 of whom are based in Australia or New Zealand. Barclays has offered EUR63.5 billion for ABN Amro. Meanwhile, a consortium led by the Royal Bank of Scotland has extended a EUR71 billion offer for the global investment bank. That bid has been endorsed by some analysts and banking union leaders. However, the Royal Bank of Scotland has signalled about 19,000 employees could lose their jobs under its takeover. It is anticipated the successful bidder would opt to either sell ABN Amro's Australasian operations or rebrand the business units....
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