Industry News

ABN Amro laying off 5% of North American workforce

No comment on reports that mortgage lending unit is for sale

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ABN Amro Bank NV, the Netherlands-based parent of LaSalle Bank Corp., announced Thursday it will cut 900 jobs in North America, most of them in Chicago, where LaSalle is based. ABM Amro employs 110,000 people worldwide, including about 3,000 at its North American headquarters in Chicago. The layoffs in the U.S., Canada and Mexico represent about 5 percent of the company's North American workforce, ABN Amro said in a statement Thursday. The Chicago Tribune reported that the bank intends to shed 500 workers in Chicago by the middle of next year. Reuters reported that ABN Amro spokesman Shawn Platt would not comment on published reports that the bank is looking to sell all or part of its Ann Arbor, Mich.-based mortgage lending unit, ABN Amro Mortgage Group Inc. ...