February 27, 2020 / 8:54 AM / a month ago

Danske Bank lays off 230 employees in cost-cutting move

COPENHAGEN, Feb 27 (Reuters) - Denmark’s biggest lender Danske Bank said on Thursday it would discontinue 400 positions across its Nordic business, including laying off 230 employees, as part of efforts to reduce costs.

“It is a necessary part of our efforts to reduce costs in order to ensure that we remain competitive,” Karsten Breum, Danske’s head of human resources, said in a statement.

In similar efforts, Danske initiated a hiring freeze last year and offered voluntary redundancies to 2,000 Danish staff in January this year.. (Reporting by Nikolaj Skydsgaard; editing by David Evans)

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