- DNB will cut around 400 jobs amid increased AI, digital, and automation investments
- Job reductions will mainly affect employees in DNB's Technology & Services unit
- AI deployment has accelerated processes and reduced the need for some manual roles
Norway's biggest bank DNB is set to cut around 400 jobs as it steps up investments in artificial intelligence (AI), digital solutions and automation across its operations.
The job cuts will affect employees in DNB's Technology & Services unit and are part of a broader organisational restructuring aimed at improving efficiency and responding to changing customer needs, the bank said on Tuesday.
Reuters reported that the DNB has increasingly deployed AI agents to handle tasks that were previously performed manually. These include work related to coding, technology development, customer-data controls and know-your-customer (KYC) compliance.
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The bank said the use of AI has already helped accelerate processes and increase capacity, but the technology is also reducing the need for some roles.
“AI is changing the way we work and how we deliver services to our customers,” DNB Group CEO Kjerstin Braathen said in a statement.
“We are already seeing considerable gains, and are therefore adapting our organisation to a new reality,” she added.
According to DNB, the restructuring is expected to be completed during the fourth quarter of 2026. The bank said further details about the financial impact of the changes would be disclosed later this year.
According to Reuters, DNB said it was aware that the restructuring would affect employees who had contributed to the bank for many years and that it would seek to conduct the process in an orderly and responsible manner.
The latest job cuts come as banks and financial companies globally accelerate the adoption of AI, particularly in areas involving repetitive or rules-based tasks.
DNB is not alone in reshaping its workforce as AI adoption gathers pace. Visa has cut jobs as it reorganises parts of its workforce around AI, while Standard Chartered has also reduced thousands of back-office positions as it expands automation.
Bank of England Governor Andrew Bailey has previously warned that AI could displace a significant number of jobs in the banking sector. Similar concerns have been raised by senior executives at major banks as the technology moves from experimental use to day-to-day operations.
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DNB's shares rose around 1% following the announcement, according to Reuters.
The Norwegian lender had around 11,500 employees at the end of 2025, meaning the announced reduction represents a relatively small but notable portion of its overall workforce.
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