EconomyPublished: 28 October 2026 at 18:11

Swedbank to cut about 100 jobs in the Baltics, but says no mass layoffs are planned

The Swedbank group plans to reduce its headcount by about 500 people, around 100 of them in the Baltic states. Swedbank Latvija says large-scale layoffs are not planned.

The banking group Swedbank plans to reduce its workforce by roughly 500 people. About 100 of those positions are in the Baltic states. Swedbank Latvija responded to reports of the plan.

The bank's Latvian arm explained that large-scale layoffs are not planned. The statement aims to reassure employees and clients after the news of a group-wide cut.

The source gives no further details on which positions or departments will be affected, how many employees this will concern specifically in Latvia, or when the planned changes will take effect.

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