DNB Cuts 400 Technology Jobs as Agentic AI Takes Over KYC, Coding and Customer Data Tasks
DNB Cuts 400 Technology Jobs as Agentic AI Takes Over KYC, Coding and Customer Data Tasks #
DNB Bank ASA, Norway’s largest bank, said Tuesday it is cutting about 400 full-time equivalent positions from its Technology & Services division as it expands its use of agentic artificial intelligence across core operations.
The Oslo-based bank said the restructuring is part of an overhaul of its Technology & Services organisation intended to improve customer experience, speed up processes and capture efficiency gains from automation. DNB has already deployed AI agents in areas previously handled manually, including customer data control, Know Your Customer compliance, technology development and coding, according to a bank press release.
“AI is changing the way we work and how we deliver services to our customers,” Group CEO Kjerstin Braathen said, adding that the bank was committed to conducting “an orderly and responsible process” and supporting affected employees.
The bank said the changes are designed to align the organisation with a new operating model in which AI agents handle a larger share of routine and process-intensive tasks. DNB did not specify how the reductions break down across functions but confirmed the total amounts to roughly 400 FTEs within T&S.
Restructuring costs will be recognised in the fourth quarter of 2026, with the downsizing expected to be completed in the same quarter. The full cost benefit will not reach the bank’s accounts until the second quarter of 2027. DNB said it will disclose further detail on financial effects later in the year.
DNB shares rose about 1% on the day of the announcement, a signal that investors view the efficiency push as value-accretive despite the near-term restructuring charge. The bank said the process will follow applicable Norwegian rules and legislation and will be conducted in close dialogue with employee representatives.
DNB joins a number of major financial institutions, including BNP Paribas, Deutsche Bank and NatWest, that have publicly linked workforce reductions to expanding use of AI agents in back-office and technology functions.
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