DNB to cut 400 jobs due to AI integration

DNB, Norway’s largest bank, has announced plans to cut approximately 400 positions within its Technology and Services unit. The restructuring is driven by the bank’s increased investment in artificial intelligence and digital solutions.

CEO Kjerstin Braathen stated that the bank is adapting to a “new reality” as AI changes how the institution operates and delivers services. Specifically, the bank is utilizing AI agents to drive efficiency in areas such as coding, customer data control, and Know Your Customer (KYC) processes.

The workforce reductions are expected to be completed by the fourth quarter of 2026, with associated costs booked in the second quarter of 2027. The bank noted that the transition will be conducted in close dialogue with employee representatives.