EMCC European Monitoring Centre on Change

Danske Bank

Company/Organisation:
Danske Bank

Geographic Location

Country: Denmark
Region: København og Frederiksberg kommuner
Location of affected unit(s): Copenhagen

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 5900
Group: Danske Bank

Employment Effects

Announcement Date: 24-10-2012
Planned Job Reductions min: 600
Type of Restructuring: Offshoring/Delocalisation
Employment Effect Start: 24-10-2012
Direct Dismissals: 300
Other Job Reduction Measures: 300

Additional Information

Danske Bank, a Danish bank, announced that it will close 131 branch offices in the country, whereby 300 jobs will be cut. According to Danske Bank, internet banking and ATMs have decreased the demand for many branch offices. The affected employees have already been informed. The redundancies are part of a larger international restructuring plan affecting 2,000 employees.

UPDATE: On 13.11.2012 Danske Bank stated it would offshore another 300 administrative jobs to the bank's subsidiary Lithuania. This will concern back-office functions. The total number of employees in Denmark will then be reduced to 5300.