DNB closes down 59 branches – 600 lose their jobs

Norway DNB LOGOOslo, Norway DNB LOGO.Photo: Gorm Kallestad / NTB scanpix

DNB has decided to close down 59 of its branches in Norway and terminate 600 employees. The bank said that there are too few customers who have visited the bank.

Of the 1,500 employees at the branches  600  will lose their jobs, writes the newspaper Dagens Næringsliv.

– The developments in customer behavior over the past year, have been dramatic and nothing we could anticipate. Of all customer traffic to DNB, only 1 percent goes through the branches of our said Rainer Bentestuen, executive vice president for retail banking in DNB.

According to the business newspaper Nord 24  the employees were  informed of the decision at meetings across the country on Wednesday. 15 of the branches are located in Northern Norway.

All employees will be offered severance packages. The entire process should be completed within six months, according to Dagens Næringsliv.

 

Source: NTB scanpix / Norway Today

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