DNB layoffs: Norway's biggest bank is cutting about 400 jobs and says AI agents already do the KYC checks and coding

DNB, Norway's biggest bank, is cutting about 400 jobs in its Technology & Services unit, and its own announcement says AI agents are already doing part of that unit's work. In a release on 6 October 2026 the bank said it will "restructure Technology & Services and reduce its workforce by about 400 full-time equivalents" after investing in technology, AI and digital solutions. It names the work: "Control of customer data and the work relating to the Know Your Customer (KYC) process, as well as technology development and coding, are areas where the bank is already seeing that AI agents can contribute substantial efficiency gains." Group chief executive Kjerstin Braathen said: "AI is changing the way we work and how we deliver services to our customers. We are already seeing considerable gains, and are therefore adapting our organisation to a new reality." DNB expects the downsizing to be finished in the fourth quarter of 2026, with restructuring costs booked in that quarter and the full cost effect from the second quarter of 2027. It did not give the cost or say how many people work in the unit, and it says the process will run in close dialogue with employee representatives. The job cuts are counted in the AI layoffs tracker on this site because the employer itself ties them to AI doing the work.