Nordea

Type
Internal restructuring
Country
Sweden
Region
Location of affected unit(s)
Sector
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
19 June 2014
Employment effect (start)
19 June 2014
Foreseen end date

Description

Nordic bank Nordea has announced that it will cut 300 jobs in Sweden. 

According to the source, Nordea has announced the job reductions as part of a cost savings program which was introduced in January 2013. The source notes that Nordea will also close bank offices as part of the plan to save SEK 8 billion (€0.9 billion) over the next three years.

The ERM has reported on previous restructuring events at Nordea Sweden in 2005, 2007and 2011. 

Sources

  • 19 June 2014: SvD

Citation

Eurofound (2014), Nordea, Internal restructuring in Sweden, factsheet number 77203, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77203.