Nordea was to be represented at the seminar by board chair Björn Wahlroos. Social Democrat Paavo Lipponen was also due to speak at the seminar.
“Both the parent company’s and Nordea Finland’s profits have grown dramatically,” said Mäenpää. “Mass lay-offs are indefensible.”
Nordea justified its decision by saying it was necessary to enable the company to comply with new regulations.
“The new regulations have been in place for a year,” countered Mäenpää. “They can’t in any way justify a fully profitable banking operation making such large-scale changes.”
Nordea’s plan is indicative of a change in business ethics hastened by globalisation, according to Mäenpää.
“Companies now exist only to serve shareholders,” said the union leader.