“The Swedish Nordea Bank will dismiss 6 thousand employees to reduce costs

Nordea Bank, one of the largest banks in Scandinavia, has decided to reduce to 6 thousand employees, including 2 thousand consultants, to remain competitive.

Downsizing will lead to a writedown in the amount of 100-150 million euros in the fourth quarter of 2017 and the additional costs over the next four years, writes the Financial Times referring to the statement by the Director General of the Bank of Casper von Koskull.

Earlier, the Bank announced plans to move the headquarters from Sweden to Finland. Also on Thursday, Nordea Bank AB reported lower operating profit in the third quarter of 2017 by 5% to 1.09 billion euros, were in line with market forecasts. Bank’s net interest income rose 1% to 1.19 billion euros, the cost increased by 2%, to 1.2 billion euros.

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