Translation into plain English You're fired
Perpetrator Gerrit Zalm
Usage example "Looking ahead, Retail Banking is embarking on a programme to further enhance the customer experience. We will invest an additional amount of approximately €150 million until 2018 to accelerate end-to-end digitisation of the key customer processes, which should enable us to attract new clients and conduct more business with existing clients. We will also further concentrate the branch network and upgrade the branches offering a broader range of services at each branch. Consequently, the number of FTEs in Retail Banking is expected to be reduced by 650-1,000 FTEs by 2018, for which a provision of EUR 50-75 million will be booked in Q4 2014."
Lucy’s commentary Not a bad euphemism for firing people but nowhere near the brilliance of “looking forward to strengthening our alumni network”.