Nykredit cuts 300 jobs

Nykredit bank is hoping its latest austerity plan entitled ‘NyKredit 2015’ will save the company half a billion kroner. Some of that savings will come at a human cost, with some 300 managerial and staff positions being cut.

“The reduction will take place through dismissals and by not refilling vacancies,” the company said in a statement. “In the immediate future, and in accordance with the rules, Nykredit will initiate a dialogue with the staff organisation concerning the reduction.”

Nykredit hopes to grow its earnings by one billion kroner by 2016.

“It is natural that Nykredit – in the wake of the financial crisis, increased regulation from parliament and the EU, new requirements from rating agencies and a Denmark with moderate growth – adapts and develops its business track,” said Nykredit Group head Michael Rasmussen in a statement.

Employees taking the hit
Nykredit employees said that they are suffering for corporate incompetence.

“We understand that we have to adapt to current conditions,” Leif Vinther, the head of Nykredit’s employee association, said in a statement. “But we are clearly unhappy that once again, less than two years after the last round of layoffs, it is the employees who are penalised for a lack of due diligence and co-ordination within the company.”

Nykredit cut 125 jobs in January 2012.

“Michael Rasmussen talks a lot about integrity, and we expect this will also be true during the  process we are now faced with,” said Vinther.

Nykredit is the largest Danish provider of mortgages, serving over one million customers through its Nykredit and Totalkredit branches.




  • Chinese wind turbine companies sign pact to end race-to-the-bottom price war

    Chinese wind turbine companies sign pact to end race-to-the-bottom price war

    China’s 12 leading wind turbine makers have signed a pact to end a domestic price war that has seen turbines sold at below cost price in a race to corner the market and which has compromised quality and earnings in the sector.

  • Watch Novo Nordisk’s billion-kroner musical TV ad for Wegovy

    Watch Novo Nordisk’s billion-kroner musical TV ad for Wegovy

    Novo Nordisk’s TV commercial for the slimming drug Wegovy has been shown roughly 32,000 times and reached 8.8 billion US viewers since June.

  • Retention is the new attraction

    Retention is the new attraction

    Many people every year choose to move to Denmark and Denmark in turn spends a lot of money to attract and retain this international talent. Are they staying though? If they leave, do they go home or elsewhere? Looking at raw figures, we can see that Denmark is gradually becoming more international but not everyone is staying. 

  • Defence Minister: Great international interest in Danish military technology

    Defence Minister: Great international interest in Danish military technology

    Denmark’s Defence Minister Troels Lund Poulsen attended the Association of the Unites States Army’s annual expo in Washington DC from 14 to 16 October, together with some 20 Danish leading defence companies, where he says Danish drone technology attracted significant attention.

  • Doctors request opioids in smaller packs as over-prescription wakes abuse concerns

    Doctors request opioids in smaller packs as over-prescription wakes abuse concerns

    Doctors, pharmacies and politicians have voiced concern that the pharmaceutical industry’s inability to supply opioid prescriptions in smaller packets, and the resulting over-prescription of addictive morphine pills, could spur levels of opioid abuse in Denmark.

  • Housing in Copenhagen – it runs in the family

    Housing in Copenhagen – it runs in the family

    Residents of cooperative housing associations in Copenhagen and in Frederiksberg distribute vacant housing to their own family members to a large extent. More than one in six residents have either parents, siblings, adult children or other close family living in the same cooperative housing association.


  • Come and join us at Citizens Days!

    Come and join us at Citizens Days!

    On Friday 27 and Saturday 28 of September, The Copenhagen Post will be at International Citizen Days in Øksnehallen on Vesterbro, Copenhagen. Admission is free and thousands of internationals are expected to attend

  • Diversifying the Nordics: How a Nigerian economist became a beacon for inclusivity in Scandinavia

    Diversifying the Nordics: How a Nigerian economist became a beacon for inclusivity in Scandinavia

    Chisom Udeze, the founder of Diversify – a global organization that works at the intersection of inclusion, democracy, freedom, climate sustainability, justice, and belonging – shares how struggling to find a community in Norway motivated her to build a Nordic-wide professional network. We also hear from Dr. Poornima Luthra, Associate Professor at CBS, about how to address bias in the workplace.

  • Lolland Municipality launches support package for accompanying spouses

    Lolland Municipality launches support package for accompanying spouses

    Lolland Municipality, home to Denmark’s largest infrastructure project – the Fehmarnbelt tunnel connection to Germany – has launched a new jobseeker support package for the accompanying partners of international employees in the area. The job-to-partner package offers free tailored sessions on finding a job and starting a personal business.