A REDHILL office is to close, leaving 300 people jobless.
ING Lease, an asset finance wing of the Dutch banking corporation, will stop taking on new business at the end of the month, when about 150 staff will be made redundant.
The company will then wind up its operations here over two years, during which time the other 150 staff at the office in Redhill High Street will lose their jobs.
Adrian Simpson, of ING's corporate communications department, said: "ING has reviewed the lease businesses and decided to place the lease company into runoff [allowing current contracts to run out].
"The business employs 300 people. Half will be made redundant at the end of November, the remaining jobs will go as the business runs down.
"Staff were told at a meeting on Monday morning."
The Redhill office is the UK headquarters for ING Lease, which provides a link between businesses looking for investment in projects and those looking to invest.
The company's contracts with intermediary companies, which send them business, will finish at the end of November, at which point ING Lease will not take on any new contracts.
Once the existing projects expire, the business will close completely.
Earlier this month Barlcays announced it will buy ING Direct UK, the company's UK banking wing, taking on 750 staff and 1.5 million customers in the process.
ING owes the Dutch Government and European Commission 4.5 billion euros in aid, following the 2008 financial crisis.