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billion in 2008 and will cut 7,000 jobs 5.4 percent of its work force, including 750 in the U.S. , the Dutcn group’s wholly owned subsidiar y in the U.S, opened a 9,500-square-fooft online bank and cafe in Waikiki last the company’s first Hawai location. There are no plans to cut staff at theWaikiko cafe, which employs 13, officials ING’s Dutch parent said it will guarantee 80 percen of the risk on $35.8 billion in U.S. residential mortgage-backeed securities. It also will halt plans to open direct banking operationesin Japan, a project that has been awaitingb regulatory approval. Meantime, ING Direct’s freeze on foreclosurezs still is in effecttthrough March.
The company said in November that it would help homeowners by halting foreclosures untip March and suspending evictions fromoccupiedx single-family homes through Jan. 15. Meanwhile, ING CEO Miche l Tilmant announced his He will be replaced by board memberrJan Hommen, former CFO of electronicsd company Phillips.
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