Danske Bank Lays off 257 Employees Under Announced Cost Reduction Plan

Danske Bank Lays off 257 Employees Under Announced Cost Reduction Plan

Danske Bank has laid off 257 employees across the organisation as part of its 2023 plan to reduce costs and become a simpler and even more competitive bank.

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In addition to the layoffs, 261 employees in Denmark have applied for and been granted a voluntary redundancy agreement, which means that they will be leaving Danske Bank in the coming months. 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.

“It is never easy to say goodbye to skilled and competent colleagues, and we are doing what we can to help the employees affected along as best possible. 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, just as we make every effort to carry out the discontinuation of positions in the most respectful and considerate way we can,” says Karsten Breum, member of the Executive Leadership Team of Danske Bank and Head of HR.

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