Nordea to Cut ‘at Least’ 6,000 Jobs in Fight to Stay Competitive
- CEO says rest of industry is likely to take similar steps
- Job cut announcement follows Nordea’s plan to move its HQ
Nordea CEO on Job Cuts, Relocating, MiFID
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Nordea Bank AB sank in Stockholm trading as the biggest Nordic lender announced additional costs to cover at least 6,000 job cuts needed to stay competitive.
The bank said about 2,000 of those will be consultants. Nordea will need to take a “transformation cost” of as much as 150 million euros ($177 million) in the fourth quarter, to help deal with the cuts, Chief Executive Officer Casper von Koskull said in a statement on Thursday. The 4,000 non-consultant jobs represent about 13 percent of Nordea’s workforce.