Sparebanken Norge announced plans on Thursday to reduce its workforce by up to 120 positions. The cuts will affect several divisions within the bank and are part of a broader restructuring effort currently under review. The announcement was made via a stock exchange notification this morning. Bank officials state the reductions will be implemented throughout the remainder of the year. The move aims to streamline operations and improve efficiency, though specific details regarding affected departments were not immediately disclosed. This restructuring follows a period of evaluation of the bank’s organizational structure and future strategy. No further details regarding severance packages or support for affected employees were provided in the initial announcement.