Staff at the Australian arm of insurance and banking group ING, including the joint venture with ANZ, look likely to bear some of the 7000 job cuts announced by the Dutch financial group overnight.A majority of the staff cuts will occur outside ING's home market in the Netherlands. And while many of these cuts may be in investment banking and also in the United States (both businesses over which ING's banking and insurance arms are now the subject of a second dose of financial aid from the Dutch government) all other areas will experience some job cuts.Insurance Asia/Pacific will have to provide 7.5 per cent of the €1 billion in savings targeted by ING over 2009, according to preliminary plans published by ING.ING generated six per cent of group profit from insurance and wealth management during 2007, and also collected 10 per cent of premium income from the Asian region. Of this, the Australian and New Zealand operations accounted for about a fifth of the premium income in Asia.With about 2000 staff in Australia, in a business jointly owned by ING (51 per cent) and ANZ (49 per cent), the staff cuts may amount to only a few dozen to meet the worldwide reduction in headcount.