10/8/2020, 10:29 AM (Source: TeleTrader)
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Danske to layoff 1,600 workers

Danske Bank announced on Thursday plans to reduce its workforce by up to 1,600 employees as a part of its cost-cutting program.

Some of the layoffs, which will take place over the next 6-12 months, are expected to be achieved through voluntary redundancy agreements and natural attrition.

"We need to adapt to the structural changes that the financial sector is experiencing, and to remain competitive in a low-margin and highly competitive market, we simply have to reduce our costs," chief executive Chris Vogelzang stated.

Baha Breaking News (BBN) / MD