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

200 - 300 jobs
Number of planned job losses
Job loss
Announcement Date
29 August 2011
Employment effect (start)
29 November 2011
Foreseen end date
31 December 2012

Description

Nordic bank Nordea has announced that it will lay off 2,000 workers in the Nordic countries in 2011 and 2012 of which 200-300 jobs will go in Norway before 2013. Negotations with the unions have started in all affected countries. The bank blames the job cuts on the increased costs imposed by new global bank regulations.


Sources

  • 29 August 2011: E24

Citation

Eurofound (2011), Nordea, Internal restructuring in Norway, factsheet number 72404, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72404.