Luxembourg - Serious job cuts at Nordea’s private banking unit - January 31, 2018

A strategic review of Nordea's Private Banking International activities as part of the company's transformation led to the decision to concentrate Nordea's private banking activities on the Nordics. Following an announced takeover by UBS of its activities, the consequences for workers at Nordea's private banking unit become clear. Around 200 jobs are at risk at Nordea. Workers have been told 50% or more of the bank's 350 employees face redundancy, as only around 150 workers will be transferred to UBS. The banking and insurance trade union within the OGBL trade union confederation has requested an interview with bank officials to discuss the situation and preserve as many jobs as possible.  

Read on: in English …

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