The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
500 - 650 jobs Number of planned job losses
Announcement Date
29 August 2011
Employment effect (start)
Foreseen end date
31 December 2012
Description
Nordic bank Nordea plans to cut some 2,000 jobs across the region in 2011 and 2012 to counter the effects of rising costs due to the Basel II agreement. The firm outlined that the job losses would be spread across Scandinavia with 500-650 in Denmark, Finland and Sweden, and around 200-300 in Norway. The bank hopes that a large part of the layoffs can be achieved on a voluntary basis, with the process completed by November. With around 34,000 employees, Nordea is the biggest Nordic bank.
Sources
29 August 2011: The Local
Citation
Eurofound (2011), Nordea, Internal restructuring in Sweden, factsheet number 72307, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72307.
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