20 January 2018
visit http://response.ncr.com

EDB Business Partners to shed 185 staff

28 November 2002  |  2447 views  |  0 EDB Business Partners to shed 185 staff

Norwegian systems house EDB Business Partners is to shed 185 staff as it forecasts no upturn in market conditions over 2003.

The firm, which supplies systems and consultancy services to banks and telecoms companies across the Nordic markets, says it does not expect any material market growth in 2003. The cuts, affecting 6 per cent of the workforce, will lead to a Nkr65 million chage in the group's fourth quarter accounts.

Bjørn Trondsen, CEO, EDB Business Partners, comments: "The reduction in staff numbers is a necessary response to the level of activity we expect to see in our various business areas in 2003.

"We hope that sufficient numbers of staff will accept the voluntary termination packages we offer them so that we can avoid having to make any compulsory redundancies."

Almost half of the job losses come the banking and finance unit, which recently completed the integration of the Novit and Fellesdata product platforms. The company says the growth in market demand for IT services that was expected from this sector when Novit and Fellesdata were merged in 2000 has not materialised

A further 50-60 jobs will be lost from the unprofitable consultancy division, while the telecomms business will shed 30-35 full-time positions.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.ebaday.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
12417 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
7827 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
7662 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6787 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job