One of Norway’s lenders, DNB, will lay off around 400 employees from its Technology & Services division as part of a major shift toward artificial intelligence (AI) and digital operations. The bank said the changes are meant to improve efficiency, enhance customer experience, and prepare for future service models driven by automation.
The restructuring will be completed by the end of 2026, with related costs booked in mid 2027. DNB has already introduced AI agents to handle tasks such as coding, technology development, and compliance checks that were previously done manually. These tools have accelerated processes and increased capacity, but also reduced the need for human roles.
The bank’s shares rose slightly after the announcement, reflecting investor confidence in its digital transformation. DNB emphasised that the transition will be managed responsibly, with support for affected employees.
Globally, several financial institutions are taking similar steps. Visa recently cut seven per cent of its workforce to align with its AI strategy, while Standard Chartered eliminated over 7,500 back office roles. Several industry leaders and experts have warned that AI could significantly reshape banking jobs in the coming years.
DNB’s move highlights the growing need to balance automation with workforce care. As AI adoption accelerates, HR must focus more on reskilling, redeployment, and emotional support efforts to help employees transition into new roles and sustain morale amid rapid technological change.