Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

500 - 650 jobs
Number of planned job losses
Job loss
Announcement Date
29 August 2011
Employment effect (start)
Foreseen end date
31 December 2012


Nordic bank Nordea plans to cut some 2,000 jobs across the region in 2011 and 2012 to counter the effects of rising costs due to the Basel II agreement. The firm outlined that the job losses would be spread across Scandinavia with 500-650 in Denmark, Finland and Sweden, and around 200-300 in Norway. The bank hopes that a large part of the layoffs can be achieved on a voluntary basis, with the process completed by November. With around 34,000 employees, Nordea is the biggest Nordic bank.


  • 29 August 2011: The Local


Eurofound (2011), Nordea, Internal restructuring in Sweden, factsheet number 72307, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72307.