Nordea to Cut Up to 5% of Staff as AI Drives Savings

Nordea Bank Abp is putting as many as 1,500 jobs at risk as it expects artificial intelligence to make processes more efficient and cut costs.

The reduction of as much as 5% of the workforce through next year is part of a structural efficiency improvement, the Helsinki-based bank said in a statement Tuesday. The move supports Nordea’s 2030 strategy, which is centered on technology, data and artificial intelligence.