Norway's biggest bank DNB to lay off around 400 staff amid AI-driven changes

DNB will lay off around 400 employees in its Technology & Services unit, Norway's largest bank said on Tuesday, citing increased investments in AI agents and digital solutions that had led to changes in the organization.

"AI is changing the way we work and how we deliver services to our customers", the lender's CEO Kjerstin Braathen said in a statement, adding DNB was adapting to what she called "a new reality".

* DNB has adopted AI agents to replace tasks previously handled manually in some of its operations


* It expects to complete the job cuts during the last three months of 2026, with costs to be booked in the second quarter of 2027

* With increased AI investments, companies globally have implemented massive layoffs with the goal of automating routine jobs

* DNB shares rose 1% following the announcement