Norway's DNB to Cut About 400 Positions, Citing Gains From AI Agents

DNB, Norway's largest bank, said on October 6, 2026 that it will cut about 400 full-time equivalent positions by the end of the year. The cut is in its Technology & Services unit. The bank tied it directly to artificial intelligence. In a stock exchange release, the bank said it has adopted agentic AI in several parts of its operations. It said the technology replaces tasks once handled manually. Unions representing DNB employees objected the same day.

The wording stands out. As the AI layoffs tracker shows, some employers that cut jobs mention AI only as an investment priority. Others say it played no part. DNB named the technology as a reason.

What did DNB announce?

The release describes a restructuring of Technology & Services. DNB said it has simplified internal processes over the past few years. At the same time, it said, it has put agentic AI to work. The term covers software built around AI models. Such software can plan a task and carry it out through other software tools with limited step-by-step direction. An earlier explainer covers how such systems work.

DNB named two areas where it says AI agents can already deliver substantial efficiency gains:

• Customer checks. Control of customer data and the Know Your Customer (KYC) process. Banks in Norway are subject to control measures under the country's Anti-Money Laundering Act. DNB says on its website that it must gather information on who its customers are and how they plan to use the bank. It says it must also keep reviewing that information.
• Software. Technology development and coding.

To realize those gains, DNB said, it will change the unit's organization and its mix of skills. It said that means a reduction of about 400 full-time equivalents. A full-time equivalent is the amount of work one full-time employee does in a year. It measures workload, not head count.

"AI is changing the way we work," chief executive Kjerstin Braathen said in the release. She said the restructuring would affect employees who had contributed to DNB for many years. She said the bank wanted the process to be orderly and responsible. DNB said it would follow applicable rules and stay in close dialogue with employee representatives.

How big is the cut?

DNB's fact book for the second quarter of 2026 lists 2,210 full-time positions in Technology & Services on June 30, 2026. It lists 10,646 across the group. Against those figures, 400 positions equal about 18% of the unit and just under 4% of the bank.

The comparison is rough. A DNB press officer confirmed to the newspaper Bergens Tidende that hired consultants are also covered by the downsizing. The press officer did not say how many. The paper reported that staff in Bergen, Oslo and Trondheim are affected. It reported that the split between the cities is not yet known. DNB told the business news site E24 that it will offer a package of measures. That is its term for a severance package.

DNB has announced staff reductions before. On September 10, 2024, it set a goal of cutting around 500 full-time equivalents over six months. That release pointed to lower interest rates, tougher competition and rising costs. It mentioned digitalization and automation but not AI. In August 2025, the bank confirmed a further reduction of about 100 positions, according to a Finwire report. The report said the positions were in customer identification, anti-money-laundering work and operational security.

What do the unions say?

Unions with members at DNB criticized the plan on the day it was announced.

• Finansforbundet. Arne Fredrik Håstein is deputy leader of the finance workers' union. He warned against treating AI as a law of nature that automatically means fewer employees, E24 reported. He said the way the gains from AI are taken is a choice. He named the options as lower staffing, or better services, stronger skills and more time for work that depends on human judgment. He also said it was hard to see how every option for employees could be properly weighed before New Year.
• Tekna. Geir Jarle Ness, the union's representative at DNB, told Bergens Tidende the bank should cut outside consultants before its own staff. The paper put DNB's spending on IT consultants at about 2 billion Norwegian kroner a year, citing the fact book. The fact book lists 514 million kroner for the second quarter of 2026. Ness said decisions had been made without the union representatives being involved. He said they would not accept dismissals but would not object if 400 volunteers came forward.
• Fagforbundet FinTech. Group representative Morten Bakkelund spoke to Fagbladet, the magazine published by the union Fagforbundet. He said DNB's unions had jointly signaled they supported neither the extent of the AI use nor the size of the cut. He said management did not heed their warnings.

Why does the attribution matter?

DNB's statement is the bank's own account. The release gives no figures on how much work its AI agents now do or which systems it uses. Nor does it say how many of the 400 positions correspond to tasks that software has taken over.

Other Nordic banks have also pointed to AI when shrinking. Nordea said on March 17, 2026 that it expects to have fewer employees in the future. It linked that to its Nordic scale, the impact of AI and process optimization. It said approximately 1,500 employees were expected to be affected in 2026 and 2027.

Danske Bank made 262 positions redundant on May 28, 2026. It cited increased automation, efficiencies, simplification and adjusted strategic priorities. It also said AI-based tools were helping it handle simpler tasks.

In the United States, the outplacement firm Challenger, Gray & Christmas counts the reasons employers give for announced job cuts. Its September 2026 report has AI cited for 3,961 cuts that month, about 9% of the total. It has AI cited for 120,136 so far this year, about 21%. Those are also employers' stated reasons. Earlier coverage looks at what independent studies have found.

What happens next?

DNB said the downsizing will be completed during the fourth quarter of 2026. Bergens Tidende reported that employees must first update their résumés. It reported that it will become clear during November who has a place in the new organization.

The restructuring costs will be booked in the fourth quarter of 2026. DNB said the full effect on its costs will show from the second quarter of 2027. It said more information on the financial effects will be disclosed later this year. The bank's financial calendar lists:

• a third-quarter report on October 21, 2026
• a Capital Markets Day on November 10, 2026
• a fourth-quarter report on February 4, 2027

Whether more cuts follow is open. E24 asked Elin Sandnes, DNB's group executive for the technology division, if AI would lead to further reductions. She answered that AI and other technology will keep affecting how the bank works, which tasks are done and which skills it needs.

Still unknown as of October 6, 2026:

• how much of the downsizing falls on DNB employees and how much on consultants
• how many people will leave voluntarily
• what the restructuring will cost