DNB to cut 100 jobs from technology & services unit, DN reports

DNB to cut 100 jobs from technology & services unit, DN reports

Norwegian financial institution DNB ASA has announced plans to reduce 100 jobs within its technology and services unit. The decision comes amidst ongoing efforts to streamline operations and enhance efficiency. DNB has stated that the job cuts are part of a broader strategy to optimize its workforce and reduce costs.

The announcement follows a series of similar moves by other major financial institutions, including Commonwealth Bank of Australia, which recently reversed its decision to replace 45 customer service roles with AI technology after facing union intervention and increased call volumes [1]. This highlights the challenges faced by financial institutions in balancing technological advancements with workforce management and public perception.

DNB's move to cut 100 jobs is significant, particularly given the bank's recent financial performance. In the 2025 financial year, DNB reported a record-breaking full-year cash profit of $10.25 billion, driven by lower bad debt levels and increased business lending. The bank also claimed to have added more than 9,000 staff and invested $2 billion in operational spending during this period [1].

The job cuts at DNB are expected to impact the technology and services unit, which has been a key focus for the bank's digital transformation initiatives. DNB has been investing heavily in technology to enhance customer service and operational efficiency. However, the bank has also faced challenges in integrating AI technology into existing workforce structures, similar to those experienced by Commonwealth Bank [1].

The decision to cut 100 jobs is likely to be met with concern from employees and unions, who may view it as a threat to job security. Julia Angrisano, national secretary of the Finance Sector Union, welcomed Commonwealth Bank's decision to scrap job cuts but warned that the broader threat of AI-driven cost-cutting remains a concern across the financial services sector [1].

DNB has not provided specific details on the impact of the job cuts on its technology and services unit or the timeline for implementation. However, the bank has stated that it is committed to maintaining high levels of customer service and operational efficiency.

References:
[1] https://theoutpost.ai/news-story/commonwealth-bank-reverses-ai-driven-job-cuts-amid-union-pressure-and-rising-call-volumes-19352/