The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Nordea Bank to cut more than 6,000 jobs amid backlash over moving its HQ

Published Thu, Oct 26, 2017 · 09:50 PM
Share this article.

Copenhagen

NORDEA Bank AB said it will need to cut at least 6,000 jobs as the Nordic region's largest lender struggles 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 (S$240 million) in the fourth quarter, to help deal with the cuts, chief executive officer Casper von Koskull said in a statement on Thursday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Banking & Finance

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here