Bloomberg News

SEB Chief Executive Officer Says May Cut More Jobs, SvD Reports

October 01, 2011

Oct. 1 (Bloomberg) -- Skandinaviska Enskilda Banken AB will have to cut more jobs as tougher regulations force the bank to reduce costs, the Svenska Dagbladet newspaper reported in an interview with Chief Executive Officer Annika Falkengren.

“There’s no doubt the total number of employees must come down” and there’s a “need to slash jobs in the Baltics,” she was quoted as saying. SEB employs 17,500 people after cutting 3,500 jobs in the past three years, according to the paper.

--Editors: Alex Nicholson, Steve Bailey

To contact the reporter on this story: Peter Levring in Copenhagen at plevring1@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net


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