The Bruneï Times: Belgium reels as ING, Caterpillar lay off thousands

05/10/2016 | Tax | Michel Maus
BELGIUM is wondering whether the world is out to get it after the small and divided European nation saw thousands of layoffs ordered by multinationals in the past month alone. Dutch bank ING said Monday it would cut 7,000 jobs, with at least half of them in neighbouring Belgium, according to the group’s Netherlands-based CEO.
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“The lack of economic patriotism makes it easier for these companies to cut costs,” said Michel Maus, a tax law professor at Brussels Free University.

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The Bruneï Times: Belgium reels as ING, Caterpillar lay off thousands