Type
Internal restructuring
Country
Finland
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

300 jobs
Number of planned job losses
Job loss
Announcement Date
9 January 2004
Employment effect (start)
Foreseen end date
1 December 2004

Description

Nordea has started cooperation negotiations in order to cut its workforce by 300 employees. According to the bank the reason for the cuts is diminishing need of traditional bank work due to increased use of internet services.


Sources

  • 9 January 2004: Helsingin Sanomat

Citation

Eurofound (2004), Nordea, Internal restructuring in Finland, factsheet number 59994, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59994.