Nordea will cut 1,500 jobs

During this year and next year, Nordea will cut 1,500 positions across the Group.
This is stated in a stock exchange announcement.

This corresponds to about 5 per cent of the approximately 30,000 employees that the bank has worldwide.

It is not clear how many jobs will disappear in Denmark, and Nordea has not wanted to elaborate further.

At Finansforbundet in Nordea, president Kasper Skovgaard Pedersen is frustrated that so many colleagues are affected.

"This is a deeply shocking announcement that affects employees across the Group. Of course, we will be closely monitoring how the plans affect both employees and the bank in the coming period, because it is a very big dent in a staff that is already running very fast," he says.

"Since the presentation of the 2030 strategy at the Capital Markets Day, we have heard a lot about realising efficiency gains. As employees, we are used to adapting to new technology, but you start completely the other way around. Justifying such large cuts in future expectations for AI and process integration is very difficult to understand. It should be about investing in employees, because learning and development are alpha omega for translating technology into business," says Kasper Skovgaard Pedersen and continues:

"Now it's about being there for our colleagues. We will very closely follow the implementation of the plans and of course the consequences for both the affected and remaining employees, because these are bold plans that have been presented."