Financial services giant ING is cutting 100 Minnesota workers from its payrolls.
The Dutch company is slashing 750 jobs or 7 percent of its total U.S. Workforce. Nearly 90 workers in Minneapolis and about 10 workers in St. Cloud are getting pink slips.
The company employs about 1000 workers in Minnesota.
ING has a number of business lines, including life insurance, banking, and investment management.
Spokesman Dana Ripley said the weak economy is prompting the layoffs, which span the country and the company's businesses.
He said ING is trying to avoid cutting positions that involve direct contact with customers.
"We recognize in these unsettling times that we need to take very good care of our customers and our distribution partners. And so the impact on 'customer-facing jobs' is minimal, and we'll continue to focus on helping out customers to navigate through these challenging times as well," Ripley said.
Ripley said layoffs will take place over the course of the first three months of this year.