Nordea to reduce staff in Finland in cooperation with personnel

Friday 9 January 2004 00:09 CET | News

The amount of traditional bank work has considerably decreased as the use of electronic services has increased. The natural personnel reduction within Nordea in Finland will in 2004 be about 300 persons due to retirement and other natural reasons.

In addition to this natural reduction, 200-300 persons will be left without work despite the joint efforts with the employee representatives to reduce the need for lay-offs. The reductions are in accordance with the earlier stated long-term flat cost target. The personnel demand in Nordeas Finnish operations will be some 8,000 in the end of 2004, excluding subsidiaries, ie about 700 persons fewer than in the end of 2003.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce