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Danske Bank offers voluntary redundancy to 2,000 employees in Denmark

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Danske Bank offers voluntary redundancy to 2,000 employees in Denmark

Danske Bank A/S offered voluntary redundancy to roughly 2,000 employees in Denmark as part of its plans to cut costs and restore profitability.

The bank needs to reduce costs to be able to invest in becoming an "even more digital, simple and efficient bank," Anne Knøs, Danske's interim head of human resources, said in a statement emailed to S&P Global Market Intelligence. "[W]e are looking at all costs across the organization, and one implication is that we will need fewer employees over time," she added.

The bank, which previously introduced a hiring freeze in October 2019, is bringing forward the voluntary redundancy option in Denmark primarily for staff in head office and support functions, Knøs said. The option could be exercised from Jan. 10 to Jan. 31.

Danske, which is at the center of a €200 billion money laundering scandal, employs about 11,000 people in Denmark. It also recently revealed plans to cut up to 108 jobs in Finland.