Norway’s biggest and highly profitable bank, DNB, is cutting another 100 positions, just a year after it cut 500 full-time-equivalent jobs. The losses come after job cuts at other major Norwegian businesses, too, and are tied to both ever-changing technology and a demanding “global landscape.”
“We need to be able to navigate an uncertain global landscape,” claimed industrial firm Norsk Hydro when it announced earlier this month that it would cut 750 jobs to reduce costs by a billion kroner. “Doing this now will make Hydro better able to handle uncertainty and position itself to succeed in a world where geo-political unease creates more volatility and new risk factors,” said Hydro chief Eivind Kallevik.
Fertilizer and industrial firm Yara is also cutting jobs and now even the profitable DNB is cutting again. Newspaper Dagens Næringsliv (DN) reported the looming cuts of 100 positions in the bank’s technology and services division, which is responsible for IT-systems, security and operations. DNB is offering incentives for employees to quit voluntarily, though, in return for up to six-months of pay and assistance if they have trouble finding new jobs.
NewsinEnglish.no staff
