News

61 participants from the national Nordea Union boards from Sweden, Finland, Norway, Denmark and Poland participated in the 5th Annual General Meeting of the Union in Nordea.



One of the themes of the Annual General Meeting was the global financial crisis´impact on Nordea. Other themes were People Strategy, the future strategies for Banking Products and Group Operations and UNI Finance´s work regarding the crisis. The financial crises have consequences on both the bank and not least on Nordea employees.



Group Executive Management (GEM) has decided that Nordea will reduce the number of full time employees with 2% before the end of the year 2009. It has also stated that "rightsizing" should be executed with natural turnover. Union in Nordea has had ongoing dialogue with the bank during the process. We appreciate the openness and the early involvement we have experienced. However, we question implementation of redundancies in case they lead to layoffs.



Union in Nordea constantly identifies the best and most sustainable solutions. Our objective is to secure that staffing issues are considered in a long term perspective. To see redundancies in staff as a quick way to reduce costs would be a dangerous road to travel, which we strongly oppose.  



Therefore a key element is to enhance voluntary internal mobility in the bank. To become successful in this, it is fundamental that the bank devotes a sufficient budget for employees to develop their competences so that they are able to take up new positions in the organisation. This is even more important now as external recruitment is an exception.

Union in Nordea is the transnational cooperation structure of the National Nordea Unions.



See also: "http://www.unioninnordea.org/default.asp?mId=1829&ArtId=144373"