DNB has spent two billion kroner on severance packages

DNB services stress testDNB logo. Photo Norway Today Media.

In four years, DNB spent two billion kroner to get rid of employees through severance packages.

Only during the first half of 2016 the company has spent half a billion kroner on severance packages, according to Dagens Næringsliv, who exposed the severance package costs from the company’s quarterly reports.

The last 18 months, the bank got rid of nearly 600 people through severance packages.

Group steward Vigdis Mathisen responds that DNB is hiring new employees while hundreds receive severance packages. She believes that the restructuring could loosely be based on a demand for new skills.

– The bank needs a different type of expertise, and should run with more competence through training rather than let go of a lot of good banking expertise by offering employees severance packages, she says.

DNB’s executive vice president of HR, Solveig Hellebust, points out that the severance package is not the only option.

– If someone is redundant, they get either severance packages, jobs internally or be transferred to a job center where they can use the time to find another job, says Hellebust.


Source: NTB scanpix / Norway Today