The biggest Dutch financial-services company ING Groep is to shed 2,350 jobs in its banking and insurance units after seeing a 64 per cent drop in third quarter profits.

ING is looking to sell its insurance operations by the end of 2013 after the company received a 10 billion-euro government bailout in 2008.

The job cuts look likely to save the group some 460 million euros by 2015.

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