Danske Bank has laid off 257 employees and concluded voluntary redundancy terms with a further 261 staff as part of a two-year strategic overhaul.
Both the layoffs and the voluntary redundancy agreements form part of the discontinuation of up 1,600 positions over a period of 6-12 months announced in October.
Head of HR, Karsten Breum, says: “We are undertaking a major transformation to adapt to the structural changes that are happening in the financial sector. That requires us to reduce costs significantly, and sadly, we cannot avoid layoffs in this connection. We continue to look at all cost types and other measures to reduce the number of layoffs necessary."
Of the total 257 positions that are discontinued, 155 are in Denmark, 26 in Norway, 35 in Sweden and 41 in Finland.