Nordea says goodbye to IT staff

​Cutbacks have affected both employees and managers across the Group Technology business area in Nordea.

"It's a tough week – it's sad to say goodbye to so many good colleagues. We and a large number of union representatives have assisted the affected colleagues who have been told that their jobs have lapsed due to elimination of the roles. We have made every effort to assure them all that they can stand tall – the job losses are solely the management's decision and not something the individual should be ashamed of in any way. At the same time, we are very aware of the remaining employees, who have to say goodbye to good colleagues and at the same time worry about the coming everyday life with fewer resources," says Kasper Skovgaard Pedersen, president of Finansforbundet in Nordea and continues:

"We are sad on behalf of the employees. We are following the developments very closely and are concerned with how they affect both employees and the bank's future. We have repeatedly pointed out the risks we see in this regard to the bank's management. In the coming period, we will be very aware that the job losses must not mean that the remaining employees have to run even faster - the work pressure is already very high. We are ready to help, support and advice all members, regardless of whether they have lost their jobs or not."

Finansforbundet: Efficiency targets are too narrow

The job losses are in line with Nordea's new 2030 strategy, which focuses on further reducing the cost ratio by stopping various activities and investing in artificial intelligence, among other things.

"We would very much like to see a strong Nordea across the entire Nordic region, but this goal cannot be achieved with a focus on efficiency alone. It is employees who must create business based on AI and new technology. Therefore, for a company like Nordea, it should be about investing in growth opportunities, upskilling and innovation," says Dorrit Brandt, president of Finansforbundet.