ING Group

ING Group is a Dutch financial services company that provides banking, investments, insurance and retirement services in more than 50 countries worldwide. On January 26, 2009, the Amsterdam-based company announced it would cut 7,000 jobs—or nearly 6% of its workforce. ING Group also announced it was replacing CEO Michel Tilmant with its supervisory board Chairman, Jan Hommen.Bloomberg.com: ING Cuts Jobs, Replaces Chief Executive, After Loss

"Developments that we have seen take place in the last couple of months really have taken a toll on Michel. It is clear that the environment in which we work today will continue to be challenging and that ING will need to have somebody and some people at the leadership to weather these difficult times."—Jan Hommen, named CEO of ING Group in January 2009Bloomberg.com: ING Cuts Jobs, Replaces Chief Executive, After Loss