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DNB to cut about 400 full-time equivalents, citing AI agents
The News
DNB, Norway's largest financial services group, said on October 6, 2026 it will cut about 400 full-time equivalents (FTEs) in Technology & Services, citing efficiency gains it says AI agents can contribute, alongside new technology and work processes. The downsizing is to be completed in the fourth quarter of 2026. Finansforbundet, a finance-sector union, pushed back the same day.
Chandni Melwani
Founder & Editor
Oct 8, 2026 · 1 MIN READ
Know More
- — Accounts: restructuring costs in the fourth quarter of 2026; cost effect fully recognised from the second quarter of 2027.
- — More detail: DNB says further information on the restructuring's financial effects will come later in 2026.
- — Consultation: DNB pledges 'close dialogue with the employee representatives'; the union expects them involved 'from the start.'
- — Finansforbundet: Norwegian union; calls itself the finance sector's largest, with over 34,000 members from 300 companies.
DNB says it is “already seeing that AI agents can contribute substantial efficiency gains” in the control of customer data, in Know Your Customer (KYC) work (vetting clients), and in technology development and coding.
The bank’s October 6, 2026 release does not say how much of the cut of about 400 full-time equivalents it attributes to AI. It also cites the opportunities of “new work processes.”
Finansforbundet’s deputy leader, Arne Fredrik Håstein, replied in Norwegian: “AI can deliver large gains. But how the gain is taken out is a choice.” Besides lower staffing, it can go into better services, higher competence and more time for tasks where human judgement, trust and experience are decisive, he said. He held DNB to its own words: an orderly and responsible process means weighing every option for staff before dismissals, and “it is hard to see how that can be done properly by the new year.”
The Read
DNB's chief executive, Kjerstin Braathen, says DNB is adapting its organisation because it is 'already seeing considerable gains.' Finansforbundet accepts that AI 'can deliver large gains,' so the dispute is more likely to turn on pace than principle: the union already doubts every option for staff can be properly weighed by the end of 2026.
Room for Disagreement
Finansforbundet's headline objects on principle: it warns against making AI 'a law of nature that automatically means fewer employees,' and Håstein says growth in finance comes when technology and human competence are developed together. Read that way, the union disputes the cut itself, and more time would not settle it.
Related
Frequently Asked Questions
Is a cut measured in FTEs the same as a number of people?
Not necessarily. An FTE, or full-time equivalent, counts work in full-time posts, so two half-time employees make one FTE. DNB states the reduction only in FTEs and gives no headcount. Finansforbundet's statement uses årsverk, the Norwegian term for the same measure.
What does DNB say its agentic AI does?
DNB says it 'has adopted agentic AI in several parts of its operations,' and that the technology 'replaces tasks that were previously handled manually,' contributes to faster processes and increased capacity, and simplifies life for its customers. The release does not name the systems or the suppliers behind them.
What has DNB said about the employees affected?
Chief executive Kjerstin Braathen said the restructuring 'will affect employees who have made a strong contribution to DNB for many years,' and that it is important 'to carry out an orderly and responsible process, and take care of the employees affected in the best possible way.' DNB says the process will follow applicable rules and legislation.
Sources
- DNB Bank ASA, 'DNB is making organisational changes in Technology & Services,' inside-information release on Oslo Børs NewsWeb, October 6, 2026. Source for the about 400 FTE figure, the areas where DNB says AI agents can contribute efficiency gains, the 'new technology and new work processes' wording, the timing of costs and downsizing, and Kjerstin Braathen's quotes.
- Finansforbundet, 'Finansforbundet: – Vi må passe oss for å gjøre KI til en naturlov som automatisk betyr færre ansatte.' press release via NTB Kommunikasjon, October 6, 2026, in Norwegian. Source for Arne Fredrik Håstein's quotes and the union's membership figures. Quotes translated by New in AI.
- DNB Investor Relations, home page. DNB's own description: 'We are Norway's largest financial services group.'
- Hero photo: DNB West Building, Barcode, Bjørvika, by Binobose, Wikimedia Commons, licensed CC BY-SA 4.0; cropped for this page
- Creative Commons Attribution-ShareAlike 4.0 International licence, which applies to the hero photo and the cropped version used here
Chandni Melwani
Chandni Melwani is the founder and editor of New in AI, covering AI agents, M&A, and enterprise adoption. She holds a Master's in Management of Artificial Intelligence from Queen's University and brings a practitioner's perspective from her work in Data and AI leadership.
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