Robeco, one of the largest Dutch fund managers, is cutting 10% of its staff, equivalent to 130 jobs, as part of cost cutting measures.

A spokesman said 90 of the 130 would be full-time redundancies and the remainder would be temporary staff and external contractors. Plans to cut fund management staff are in preliminary stages. The spokesman could only confirm one junior fund manager who would be made redundant. The firm employs 100 fund managers.