Danske Bank cuts jobs as it streamlines its corporate department

Workers dealing with currency and bonds will be the worst affected

What goes up, must come down … Especially in the Danish summer (photo: Pixabay)
May 27th, 2014 7:28 pm| by admin
facebooktwittergoogle_pluspinterestmail

Danske Bank has decided to brandish its streamlining knife and cut 75 jobs from its Corporates & Institutions department (C&I), according to FinansWatch business media.

Moreover, a further 75 jobs will be cut as part of the one billion kroner streamlining plan that the bank launched last year in a bid to make the bank more competitive.

”We have undergone a number of large investments into C&I in order to offer our customers a complete platform,” Glenn Söderholm, the head of C&I, told FinansWatch.

“What we are doing today is fitting the platform to the business environment we operate in. There are areas where we are seeing a decline in demand with our customers and we need to react to that.”

READ MORE: Danske Bank gets credit rating upgrade

Customers going digital
The job cuts will in particular occur in the areas that the bank has experienced dwindling activity such as currency and bonds, where customers are increasingly using digital solutions for their needs.

The redundancies among the 1,500 employees in the C&I departments will mostly take place in the Nordic areas, London and Ireland.

What goes up, must come down … Especially in the Danish summer (photo: Pixabay)
Heatwave over: cold and windy weather on the way
Clearly, the weather gods are looking down at us and thinking: "Alright, y...
Experts call the industry a "breeding ground for mistakes" (photo: pixabay)
Construction one of Denmark’s most dangerous jobs
Every day of the year, there are an average of 13 accidents in construction...
Khalil is accused of murdering his sister in Horsens last December (photo: Wolfman)
Suspected murderer turns up in Athens
A 25-year-old Syrian man charged with murdering his sister in Denmark last ...
More people preferring to stay in private homes (photo: iStock)
AirBnb more popular than ever in Denmark
More and more Danes are renting out their private homes via the online lodg...
The Skagen Lighthouse opened way back in 1858 (photo: Naturstyrelsen)
Skagen Lighthouse to become bird sanctuary
The iconic Skagen Lighthouse in north Jutland will be transformed into a mo...
The summer weather may be here, but so are the jellyfish … And they are here to ruin your beach swims (photo: Alexander Vasenin)
Army of jellyfish invading Denmark
An army of jellyfish has arrived at the Danish coastline near Vraget Beach...