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Nordea Bank’s 6,000 Job Cuts Are Just the Beginning, Union Says

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Nordea CEO on Job Cuts, Relocating, MiFID

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One of Sweden’s main financial-worker unions says the job cuts announced in October by Nordea Bank AB are just the beginning of a transformation that’s about to hit the whole industry as more financial firms come to rely on digital solutions.

The Nordic region’s biggest bank has yet to reveal to its staff who exactly will be affected by the cuts. Nordea has just said it intends to get rid of 4,000 full-time employees and 2,000 consultants. Those announcements will be made internally and department by department at regular intervals over the coming years, the bank has said.