DNB to cut 600 jobs in Norway, shut branches

DNB

DNB, Norway’s largest bank, will cut 600 jobs in Norway this year and shut 59 bank branches, it said in a statement.

The company had said in November that it would spend 1.2 billion crowns ($139 million) on restructuring costs between 2016 and 2018. In 2015 the bank cut 200 jobs, mainly by not replacing people leaving the company.

DNB was not immediately available for further comment. The bank will announce its fourth-quarter results on Thursday.

[reuters]

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