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

300 jobs
Number of planned job losses
Job loss
Announcement Date
13 December 2011
Employment effect (start)
14 December 2011
Foreseen end date


On 14 December Swedbank announced that it will reduce its workforce by 300 jobs in Sweden and further 300 jobs in the Baltic countries. The internal restructuring process is due to saving requirements by approximately SEK 330m (about 34.8M€ as of 15 December 2011).

As of 15 December, there is no information on how many employees with permanent contracts will be dismissed or when the restructuring will be concluded. It is however reported that the cuts mainly will concern large corporate and institutions divisions and that some employees will leave due to retirements.

Swedbank is one of Sweden's largest banks with 8200 employees. Swedbank has substantially reduced its workforce in the last couple of years: In mid-2009, they had announced 3600 job cuts across the EU (see here).


  • 14 December 2011: Dagens Industri
  • 14 December 2011: Svenska Dagbladet


Eurofound (2011), Swedbank, Internal restructuring in Sweden, factsheet number 72846, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72846.