Nordea

Type
Internal restructuring
Country
Denmark
Region
Danmark;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
100 jobs
Number of planned job losses
Job loss
Announcement Date
17 July 2014
Employment effect (start)
1 September 2014
Foreseen end date

Description

Nordic Bank Nordea announced plans to cut 100 jobs in Denmark in the framework of its ongoing cost saving restructuring plan. As reported, the direct job cuts will be on top of other job reduction measures such as voluntary redundancies and natural attrition. For a previous restructuring event see here.

Nordea has announced in the beginning of 2014 a €900 million cost saving plan for the next 2 years. Nordic Financial Unions (NFU) deplored the plan. Recently similar job reduction measures were announced in Finland and Sweden. 

Sources

Citation

Eurofound (2014), Nordea, Internal restructuring in Denmark, factsheet number 77395, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77395.